Starbucks Corporation (NASDAQ:SBUX) launched a bottled ready-to-drink version of its popular Cold Brew coffee in grocery and convenience stores on Jun 15.
The drink will be available in select retail and grocery stores in Seattle and Portland from next month. The smooth tasting unsweetened bottled coffee is one of the many ready-to-drink beverages that the coffee giant is bringing this summer under its joint venture partnership with PepsiCo, Inc. (NYSE:PEP). These include Starbucks Black Iced Coffee, Starbucks Doubleshot Energy Coffee, Starbucks Iced Espresso Classics Salted Caramel Mocha and Starbucks Refreshers Revitalizing Energy with Coconut Water.
Starbucks formed the joint venture with Pepsi in 2014 for marketing, sale and distribution of Starbucks ready-to-drink coffee and energy beverages. The joint venture - christened North America Coffee Partnership (NACP) - has grown into a more than $1.5 billion retail business offering 40 ready-to-drink Starbucks beverages at present.
The companies also have a deal to launch ready-to-drink beverages in Latin America later this year.
Other products launched by Starbucks this week to beat the summer heat include cool and refreshing Granitas icy treats and Trifles desserts as a part of its Sunset Menu.
The menu will be available throughout summer after 3 P.M. in participating stores in the U.S. and Canada.
Zacks Rank and Stocks to Consider
Starbucks has a Zacks Rank #3 (Hold). Better-ranked stocks in the restaurant sector are Famous Dave's of America Inc. (NASDAQ:DAVE) , Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) and Restaurant Brands International Inc. (NYSE:QSR) . All the three stocks sport a Zacks Rank #1 (Strong Buy).
STARBUCKS CORP (SBUX): Free Stock Analysis Report
FAMOUS DAVES (DAVE): Free Stock Analysis Report
RESTAURANT BRND (QSR): Free Stock Analysis Report
DAVE&BUSTRS ENT (PLAY): Free Stock Analysis Report
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