Starbucks moves into European RTD coffee market
Starbucks Corporation announced that it will enter the ready-to-drink coffee category in Europe. The coffee giant has signed an agreement with Arla Foods, one of the largest dairy companies in the world, for the manufacture, distribution and marketing of Starbucks-branded premium RTD coffee beverages in Europe. The market is worth approximately $550 million (368 million). The company hopes to extend the "Starbucks experience" to consumers beyond its retail stores, while broadening global distribution channels.