Coke sends Keurig Green Mountain shares higher with additional purchase

Things go better with Coke, apparently, as the share price of Keurig Green Mountain stock has jumped nearly 50 percent since the company announced in February that Coca-Cola had acquired a 10 percent share of the company.

Coca-Cola announced Monday that it was increasing its interest to 16 percent, according to Forbes, sending shares of Keurig (GMCR) to $121.34 at midday Tuesday. That put the stock up nearly 10 percent on the day and nearly 50 percent since its position at about $80 before Coke’s February acquisition.

Coke acquired a 10 percent ownership stake in Waterbury-based Keurig Green Mountain for $1.25 billion in February, announcing it had entered into a deal  to create a cold-beverage delivery system using the company’s K-cup technology and brewing system.

Coke will purchase 6.5 million more shares of GMCR stock under Monday’s agreement.

Comments

  1. Kathy Leonard :

    Robert Stiller’s fine little company has morphed into a corporate Frankenstein, collecting lawsuits like badges and pimping disposable plastic gadgets and tiny plastic cups that could span the globe each year. The little cups will no doubt find their place in the deadly Pacific gyre as their users save 30 seconds of convenience.

    • Carl Marcinkowski :

      Amen. A fine Vermont company with a great business now into the disposable plastic land fillers and unhealthy drinks. Boo.

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