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Starbucks and Danone Team Up to Take on Growing U.S. Yogurt Market
Starbucks Coffee Company, the world's leading coffee retailer and roaster of specialty coffees, and Danone, the world's leading producer of fresh dairy products announced a strategic agreement to offer a jointly created and developed selection of new, healthy specialty yogurt products in participating Starbucks stores and in grocery channels on July 24,2013.
This will advance Danone’s ambition to expand yogurt consumption in the U.S., while growing Starbucks health and wellness offerings for its customers under the company’s Evolution Fresh brand.
“With a fast-growing but still low penetration of the yogurt category, the U.S. remains a key growth opportunity for Danone”said Danone Chief Executive officer Franck Riboud. “The recent success of the Greek segment and our Oikos brand have confirmed the growing appeal of tasty and nutritious yogurts for U.S. consumers and established Dannon’s leadership in the market. We believe this attraction will be further enhanced by our new access to millions of consumers through distribution in Starbucks stores, as well as through the addition of an exciting new brand, Evolution Fresh, inspired by Dannon.”
Beyond this initiative, Starbucks and Danone will seek additional ways to leverage joint opportunities across other products and markets in the months to come.
The financial terms of the agreement were not disclosed.