Lavazza to Purchase Stake in Green Mountain
September 8, 2010,
WATERBURY, Vt.-Green Mountain Coffee Roasters and Luigi Lavazza S.p.A. have formed an agreement in which Lavazza will purchase a stake in Green Mountain. The two companies are also working on a further agreement through which they will develop single-serve espresso machines.
Under the terms of the purchase deal, Lavazza will buy $250 million of newly issued shares of Green Mountain's par value common stock, amounting to 7 percent of Green Mountain's current outstanding shares. This purchase, which requires approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, is expected to close this month.
The new products would not be available to the marketplace until Green Mountain's fiscal year 2013.
Other Articles By Author
SPONSORED: Abbyson's Fashion-Forward Collections Shine in High Point