Atlanta-based Coca-Cola will buy more than 16.6 million shares of Green Mountain Coffee Roasters, which will be Coca-Cola’s exclusive partner for the production and sale of Coca-Cola-branded single-serve, pod-based cold beverages.
The two companies also plan to investigate other opportunities to collaborate on the Keurig platform.
The Keurig Cold single-serve beverage system is currently under development and expected to hit stores shelves in more than year. Keurig Cold will use formulated single-serve pods to dispense cold beverages including carbonated drinks, enhanced waters, juice drinks, sports drinks and teas in a way similar to the Keurig brand hot system.
“This agreement demonstrates our creative approach to partnerships and ability to identify and stay at the forefront of consumer trends driving the industry," said Muhtar Kent, Coca-Cola chairman and CEO, in a statement. "By pairing The Coca-Cola Company’s brand leadership and global footprint with GMCR’s innovative technology, together we will be able to capitalize on the many exciting growth opportunities in the single-serve, pod-based segment of the cold beverage industry. Importantly, this partnership provides our consumers with a convenient way to enjoy the brands they love through in-home preparation.”