Photo: Second Medly Blog
Green Mountain Coffee Roasters has dropped almost 4% on news that Starbucks will provide coffee for Courtesy Products’ single-cup brewers in a new partnership. Financial terms of the deal have not been disclosed.Green Mountain spiked yesterday afternoon on news that it was in talks with Starbucks for a partnership involving its new Keurig single brewing technology. The stock had been down in the morning on news that Starbucks would be rolling out its own single brewing product.
Green Mountain is considered to have the most competitive edge in the single-cup market but its reign may be over soon on this news.
Courtesy Products’ single cup machines can be found in nearly 500,000 hotel rooms in the U.S.