- Last Updated: 12:53 AM, March 22, 2012
- Posted: 12:06 AM, March 22, 2012
Starbucks is expanding into the fast-growing energy drink category and plans to add manufacturing jobs in the US, the world’s biggest coffee chain said yesterday.
Starbucks’ new line of “Refreshers” beverages targets the $8 billion US energy drink market that includes products such as Red Bull and Rockstar.
The fruit-flavored drinks are made with a virtually flavorless extract of green, unroasted coffee, and pack less caffeine kick than coffee drinks made from roasted beans.
The Refreshers debut comes as the 40-year-old company is reporting record revenue and profits.
Starbucks — which has started a fund to spur US job creation — also announced plans to create about 150 jobs by investing nearly $180 million to build a new factory in Augusta, Ga., and to expand an existing roasting plant in Sandy Run, SC, to add packaging capability.
Starbucks shares rose 0.15 percent to close at $53.81 on Nasdaq. The stock has jumped more than 50 percent over the last year and is trading at all-time highs.