Green Mountain Coffee Roasters Inc , maker of the popular Keurig single-cup coffee brewer, said on Wednesday that Coca-Cola Co has bought a 10 percent stake in it for $1.25 billion. The deal is part of a 10-year agreement to collaborate on the development and introduction of Coca-Cola products on Green Mountain's planned cold beverage machines.Under the terms of the agreement, Coca-Cola will acquire roughly 16.7 million newly issued shares of Green Mountain. The new shares have been priced at $74.98, which represents the trailing 50-trading-day volume weighted average price as of market close.
Green Mountain Coffee Roasters, Inc. (GMCR) is a specialty coffee and coffee maker. Shares of GMCR traded higher by 0.92% or $0.74/share to $80.88. In the past year, the shares have traded as low as $42.25 and as high as $89.66. On average, 3307180 shares of GMCR exchange hands on a given day and today's volume is recorded at 6541755.
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