Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Green Mountain Coffee Roasters to Acquire Keurig
May 5, 2006
 Printable format
 Email this Article
 Search

Green Mountain Coffee Roasters, Inc. will acquire coffeemaker manufacturer Keurig, Inc. Green Mountain, a maker of specialty coffees, currently owns approximately 35 percent of Keurig and will purchase all outstanding shares for a total price of U.S. $104.3 million.

This includes $99.5 million in cash for all outstanding common shares, preferred shares, warrants and vested options of Keurig and an additional $4.8 million for the currently outstanding unvested options to Keurig employees.

The merger is still subject to approval and expected to close on June 15, 2006. Keurig will remain headquartered in Wakefield, Massachusettes, U.S., and will be a wholly owned subsidiary of Green Mountain Coffee.

Nick Lazaris, president and CEO of Keurig, said, “We at Keurig are very pleased with the prospect of becoming part of Green Mountain Coffee. At this stage in our company’s development, it is beneficial for us to join forces with a larger strategic partner that has additional resources to help fuel our future growth.”

Green Mountain Coffee anticipates the acquisition will be modestly dilutive to its earnings per share for fiscal 2006, and accretive thereafter. Taking into account the acquisition, the company is narrowing its earnings per share guidance for fiscal 2006 from $1.20-$1.40 to $1.20-$1.30 per share.

Green Mountain Coffee said Lazaris signed a 4-year employment contract and will lead the Keurig business after the merger.

Robert P. Stiller, chairman, president and CEO of Green Mountain Coffee, said, "We know Keurig’s business and the management team because we have been involved from the very beginning, as both an investor and roaster. With our background and experience in the specialty coffee industry, and because we share Keurig’s innovative and entrepreneurial approach, I believe we can create significant value for Keurig and its other roaster partners in fully maximizing its potential.”

Back to Daily News

 

Daily News

...........................................................

Aug 22, 2014: Existing Home Sales Up in July

Aug 21, 2014: Miele Annual Sales Up 2.2%

Aug 21, 2014: TTI Reports Record Sales

Aug 21, 2014: Stihl Annual Cycling Event Raises $539,000 So Far in 2014

Aug 21, 2014: Canadian Housing Starts Expected to Edge Down

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows