Starbucks and Anheuser-Busch to launch ready-to-drink tea

A new tea relationship of sorts has formed between Starbucks and Anheuser-Busch.

The companies will join forces to produce ready-to-drink Teavana tea.

Starbucks will focus on its tea expertise, retail activation and consumer engagement, while Anheuser-Busch will steer production, bottling and distribution to wholesalers.

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"We are excited to work with Anheuser-Busch to unlock the premium ready-to-drink market and further grow demand for the Teavana brand," said Starbucks CEO Howard Schultz.

Starbucks Corp. bought Teavana for $620 million in 2012, according to The Associated Press.

The deal is expected to be finalized later in 2016 and the product launch in 2017.