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.