Procter & Gamble is about to give Starbucks a serious run for its cup-at-a-time, gourmet coffee gold mine. Along the way, P&G (PG) hopes to change the way millions of consumers make and drink coffee.
The maker of Folgers and Millstone coffees will announce a pressurized, single-serve coffee-making system. It was developed with four coffee appliance giants that, combined, control three-fourths of the domestic market. The technology was created by Black & Decker (BDK), which is licensing it to Mr. Coffee, Krups and Hamilton Beach.
P&G hopes its new Home CafÃ© system will replace conventional drip coffee systems – just as drip coffee makers ousted percolated coffee in the 1970s. Some say it could turn the nation’s $19 billion coffee industry on its ear