Coca-Cola buys equity stake in top coffee maker
Atlanta, February 11, 2014
The Coca-Cola Company said it has entered into an agreement with Green Mountain Coffee Roasters to purchase a 10 per cent minority equity stake in the leading specialty coffee and coffee maker for $1.25 billion.
Also Coke inked a 10-year global startegic partnership deal with Green Mountain Coffee Roasters.
As per the agreement, the duo will collaborate on the development and introduction of The Coca-Cola Company’s global brand portfolio for use in GMCR’s forthcoming Keurig Cold at-home beverage system.
Under the global strategic agreement, GMCR and The Coca-Cola Company will co-operate to bring the Keurig Cold beverage system to consumers around the world.
“With The Coca-Cola Company as a global strategic partner in our multi-brand at-home Keurig Cold beverage system, we believe there is significant opportunity to premiumize and accelerate growth in the cold beverage category by empowering consumers with an innovative, convenient way to freshly prepare their favorite cold beverages at the push of a button,” said Brian P. Kelley, the president and CEO of GMCR.
“This global relationship combines The Coca-Cola Company’s unparalleled brand, distribution and marketing strengths with GMCR’s innovative technology and beverage system expertise,” he noted.
On the deal, 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."
This agreement, said Kent, demonstrates Coke's creative approach to partnerships and ability to identify and stay at the forefront of consumer trends driving the industry.
"By pairing The Coca-Cola Company’s brand leadership and global footprint with GMCR’s innovative technology, together we will be able to capitalize on the many exciting growth opportunities in the single-serve, pod-based segment of the cold beverage industry," he stated.
"More importantly, the partnership provides our consumers with a convenient way to enjoy the brands they love through in-home preparation," he added.-TradeArabia News Servce