GMCR Licenses with Coca-Cola on Launch of Keurig Cold-Beverage Platform
February 5, 2014,
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WATERBURY, Vt.-Green Mountain Coffee Roasters (GMCR) has signed a 10-year agreement with The Coca-Cola Co. to collaborate on the development and introduction of Coca-Cola's brand portfolio for use in GMCR's forthcoming Keurig Cold beverage system.
Under the terms of the agreement, Coca-Cola will cooperate to bring the Keurig Cold beverage system to consumers throughout the world. GMCR will become Coca-Cola's exclusive partner for the production and sale of Coca-Cola branded single-serve, pod-based cold beverages. The two companies will also look into other future opportunities to collaborate on the Keurig platform, according to a joint statement from GMCR and Coca-Cola.
Brian Kelley, GMCR president and CEO, said, "With The Coca-Cola Co. as a global strategic partner in our multibrand 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."
Also as part of the agreement, Coca-Cola will also purchase a 10 percent minority equity position in GMCR, acquiring almost 16.7 million shares for about $1.25 billion. This transaction is expected to close in March.