Coca-Cola to acquire 10% stake in GMCR for $1.25bn
Global drinks major Coca-Cola has agreed to acquire 10% ownership stake in Green Mountain Coffee Roasters (GMCR), a provider of specialty coffee and coffee makers, for around $1.25bn.
Under a separate 10-year agreement, both the companies have agreed to develop and introduce Coca-Cola's global brand portfolio for use in GMCR's Keurig Cold at-home beverage system, which is currently in the development stage and is scheduled for launch in 2015.
Keurig Cold will use precisely formulated single-serve pods to dispense freshly-made cold beverages such as carbonated drinks, enhanced waters, juice drinks, sports drinks and teas.
GMCR will be Coca-Cola's exclusive partner for the production and sale of its branded single-serve, pod-based cold beverages.
GMCR president and CEO Brian Kelley said that this global relationship combines Coca-Cola's brand, distribution and marketing strengths with GMCR's innovative technology and beverage system expertise.
Coca-Cola chairman and CEO Muhtar Kent said, "Our 2020 Vision calls for decisive and timely action to continuously improve and evolve our global system to best serve our customers and consumers around the world."
Image: GMCR will be Coca-Cola's exclusive partner for the production and sale of its branded single-serve, pod-based cold beverages. Photo courtesy of Green Mountain Coffee Roasters, Inc.