- Starbucks disagrees with an arbitrator's decision that the coffee giant must pay Kraft spin-off Mondelez International Inc nearly $2.76 billion in the wake of a failed grocery partnership with Kraft Foods.
- The total from the decision, which Starbucks announced Tuesday, would include $2.23 billion in damages, as well as $527 million to cover attorney fees and prejudgment interest.
- Starbucks also announced that prematurely backing out of the agreement in March 2011 allowed it to have "the flexibility to aggressively expand our growth in the premium single serve segment with Starbucks Coffee K-CUP Packs and Verismo."
Starbucks still maintains that Kraft did not live up to its end of the deal for retail distribution, but both parties are undoubtedly happy to see this legal process conclude. Mondelez, of course, is probably much happier. After all, the company now has a pocketful of court winnings. Meanwhile, Kraft has a new grocery store coffee product partner—and this time it's sweet on McDonald's instead of Starbucks.