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Coca-Cola is buying a 10% stake in Green Mountain Coffee Roasters for about $1.25 billion as the two companies team together to create a n at-home, cold beverage system.
Shares of the maker of Keurig coffee brewers jumped more than 33% in after-hours trading to $109.00 after the Amazon Deal was announced. Coca-Cola shares rose 0.6% to $37.85.
Coca-Cola will buy 16.7 million shares of Green Mountain for about $74.98 apiece
The companies will target the single-serve, pod-based segment of the cold beverage industry," said Coca- Cola CEO Muhtar Kent, and provide "our consumers with a convenient way to enjoy the brands they love through in-home preparation."
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