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By Michael Dabaie
McDonald's Corp.'s (MCD) McDonald's USA and Keurig Dr Pepper Inc. (KDP) said they are in a long-term master licensing and distribution agreement for McCafe packaged coffee in the U.S.
Under the agreement, Keurig Dr Pepper will continue to be the exclusive manufacturer of McCafe K-Cup pods in the U.S.
KDP will also take on responsibility for coffee sourcing, distribution and marketing of the McCafe brand in K-Cup pods and bagged and canned coffee formats in all classes of trade, including retail and e-commerce, beginning in the second half of 2020.
McDonald's said the McCafe packaged coffee business was launched with Kraft Heinz Co. (KHC) in 2014.
McDonald's said it, Kraft Heinz and Keurig Dr Pepper will work together on a transition in the second half of 2020.
Keurig Dr Pepper shares rose about 3% to $27.75 premarket.
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(END) Dow Jones Newswires
September 26, 2019 08:36 ET (12:36 GMT)
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