NEW YORK — An arbitrator has concluded that Starbucks must pay $2.76 billion to settle a dispute with Kraft over coffee distribution.
The two consumer products companies had been locked in a fight after Starbucks Corp. fired Kraft as its distributor of packaged coffee to grocery chains in 2010.
The arbitrator determined that Starbucks must pay $2.23 billion in damages and $527 million in attorney fees, Starbucks and Mondelez said Tuesday.
Seattle-based Starbucks said Tuesday that while it is pleased that the arbitration has ended, it disagrees with the conclusion.
Kraft will send the money to Mondelez International Inc., based in Deerfield, Ill., which spun off Kraft Foods Group in October 2012.