Exclusive: Kraft to launch Maxwell House cups for Keurig
NEW YORK (Reuters) - Kraft Foods Group Inc KRFT.O will soon sell Maxwell House and Gevalia single-serve coffee cups compatible with Keurig brewing systems, a spokesman said on Thursday, sending Keurig parent company Green Mountain Coffee Roasters Inc's GMCR.O shares down 2 percent.
The cups are not licensed by Keurig or affiliated in any way, said Kraft spokesman Basil Maglaris. That means that Green Mountain will not receive any royalties from their sale.
Maglaris said he expects the cups to be on U.S. retail shelves sometime in the next several months.
Green Mountain was not immediately available to comment.
Kraft also manufactures the Tassimo single-serve coffee system. Maglaris could not say whether the Keurig cups would cannibalize sales of Tassimo cups.
Green Mountain shares were down 41 cents, or 1.7 percent, at $21.70 on Nasdaq. Kraft shares were down 65 cents, or 1.4 percent, at $45.70 on the Nasdaq.
(Reporting By Martinne Geller in New York; Editing by Gerald E. McCormick)
© Thomson Reuters 2017 All rights reserved.