NEW YORK (AP) -- Shares of Crumbs Bake Shop Inc. got a shot of caffeine in after-hours trading Monday after the company said it struck a deal to serve Starbucks coffees and teas at it bakeries.
Financial terms of the deal were not disclosed.
The New York-based bakery chain said the new drink offerings should help boost sales of its baked goods. Crumbs said Starbucks drinks will be rolled out in New York area Crumbs shops in September then expand to other locations.
Crumbs opened its first store in March 2003 in Manhattan. It now has 51 locations, including 33 in the New York metropolitan area.
Shares of Crumbs jumped 39 cents, or 19 percent, at $2.44 in after-hours trading, after closing down 5 cents at $2.05.
Starbucks shares gained 2 cents at $43.50 in late trading, after closing down 26 cents at $43.48.
