Starbucks Response to Kraft Foods Recent Actions
SEATTLE, - Starbucks Coffee Company (Nasdaq: SBUX) believes that itís unfortunate that Kraft has chosen to attempt this delaying tactic through seeking preliminary injunction, a course that will ultimately prove harmful to customers. Starbucks has repeatedly said that we have terminated our agreement with Kraft and we continue to look forward to assuming full responsibility for the sales and distribution of our packaged coffee products as of March 1, 2011. We have both the capabilities and experience to make this a seamless transition for our customers. Kraftís self-serving and blatantly disruptive actions risk creating unnecessary confusion for our shared customers, and in turn their consumers. Starbucks will vigorously oppose any action on Kraftís part that would prevent Starbucks from rightfully assuming full control of our brand and business, and look forward to presenting our case through the pending arbitration process.
About Starbucks Corporation
Since 1971, Starbucks Corporation has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. In addition to its Starbucks retail stores, the company produces a wide range of branded consumer products globally, including ready-to-drink beverages, packaged coffees and premium ice creams. The companyís brand portfolio features Starbucks Coffee, Tazo Tea, Seattleís Best Coffee and Torrefazione Italia Coffee, enabling Starbucks to appeal to a broad consumer base. For more information, please visit us online at www.starbucks.com.
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