US: Coca-Cola Co to boost Keurig Cold stake
Coca-Cola bought the initial stake in February
The Coca-Cola Co is to raise its stake in Keurig Cold co-developer Green Mountain Coffee Roasters to 16%.
The soft drinks maker will own about 26m shares in Green Mountain, up from the 16.7m, or 10%, it agreed to buy in February, according to a filing yesterday (13 May). The deal is through Coca-Cola's wholly-owned subsidiary Atlantic Industries, which has an option with Credit Suisse to raise its holding to 16% through open market purchases.
According to the filing to the US' Securities and Exchange Commission, any transaction must take place before 13 February next year.
Coca-Cola is partnered with Green Mountain over the Keurig Cold at-home carbonation system, due to be launched next year. The move, announced when Coca-Cola bought its initial Green Mountain stake in February, includes a ten-year agreement to use Coca-Cola-branded products in the Keurig platform.
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