UPDATE: Coinstar and Seattle's Best Coffee Sign Exclusive Agreement to Roll Out Thousands of the New Rubi Kiosks
Coinstar, Inc. (Nasdaq: CSTR) and Seattle's Best Coffee, part of Starbucks Corporation (Nasdaq: SBUX), today announced an exclusive agreement to roll out Coinstar's new Rubi™coffee kiosk in the grocery, drug and mass merchant retail channels featuring Seattle's Best Coffee® beverages. The Rubi kiosk marks Coinstar's latest innovation in automated retail. For Seattle's Best Coffee, the agreement adds another strategic channel of distribution for its premium coffee offering. The kiosks will begin rolling out this summer with approximately 500 kiosks serving Seattle's Best Coffee expected by the end of the year and thousands of machines in the next several years.
"We are delighted to introduce the Rubi kiosk, our third automated retail business. Just as our Redbox® movie rental and Coinstar® coin-counting kiosks reimagined retail, we believe our coffee kiosk reimagines the coffee experience for consumers," said Paul Davis, chief executive officer of Coinstar, Inc. "In addition, we are very pleased to work with Seattle's Best Coffee, one of the country's premier coffee brands. Together, we will deliver the kind of quality, convenience and value that we know coffee drinkers on-the-go will appreciate."
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