Starbucks partners with AB InBev for Teavana iced tea
Coffee giant Starbucks announced a partnership with the world's largest beer maker AB InBev to manufacture a new line of ready-to-drink iced teas under its Teavana brand. The bottled teas are expected to tap into the $1 billion+ US iced tea market - one of the fastest growing beverage categories with a 6.1% volume growth in 2015. They are to be distributed in roughly 300,000 grocery and convenience stores across the country, with AB InBev's reach playing a key part in the decision, thanks to 100,000 more stores than PepsiCo, which bottles Starbucks' Frapuccino drinks. The fact that PepsiCo bottles Lipton may have also played a part in the decision process. Teavana iced tea range is expected to hit the shelves in the first part of 2017.