Coca-Cola is coming to Green Mountain.
The soda brand and coffee company have entered in a 10-year agreement to use the drink in the Keurig Cold at home beverage system a Green Mountain Coffee Roasters press release reported Wednesday.
"With The Coca-Cola Company as a global strategic partner in our multi-brand at-home Keurig Cold beverage system," Brian Kelley CEO at Green Mountain said in a statement. "We believe there is significant opportunity to premiumize and accelerate growth in the cold beverage category by empowering consumers with an innovative, convenient way to freshly prepare their favorite cold beverages at the push of a button," Kelley said in the statement.
Both companies are currently working on the endeavor, and is scheduled for introduction in 2015 the press release reported. Coca-Cola is slated to receive 16,684,139 new shares for $74.98 each, and $1.25 billion total or 10 percent proportions wise.
"Our 2020 Vision calls for decisive and timely action to continuously improve and evolve our global system to best serve our customers and consumers around the world," Muhtar Kent, chairman and CEO at the Coca-Cola Company said in a statement. "This agreement demonstrates our creative approach to partnerships and ability to identify and stay at the forefront of consumer trends driving the industry. 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," Kent said in the statement.
Green Mountain and Coca-Cola will work to make and market cold drinks that consumers can use in Green Mountain's beverage system, and look at future options using the product the press release reported.
