If you thought that cup of coffee you picked up on the way to work this morning cost a pretty penny, then can you imagine how the much one of the biggest names in the coffee biz would go for? Well, if you guessed $13.9 billion, then you should probably go buy a lottery ticket, as that’s how much Keurig plans to sell itself for.
Keurig Green Mountain announced Monday that it has agreed to a $13.9 billion sale to an investment group led by JAB Holding Co – the company behind names like Caribou and Peet’s Coffee & Tea, The Wall Street Journal reports.
In addition to bringing Keurig closer to its caffeine-selling brethren, its new owners include Mondelez – the maker of Oreos and Trident gum. Additionally, JAB Holding counts OPI nail polish and the Jimmy Choo brand of shoes in its roster of investments.
JAB Holding Co. says it plans to operate Keurig as an independent subsidiary with the same management team and employees currently in place.
The WSJ reports that Coca-Cola, which has a 17% stake in Keurig, fully supports the transaction and that the deal was unanimously approved by Keurig’s board.
Keurig Green Mountain Agrees to Get Bought for $13.9 Billion [The Wall Street Journal]
by Ashlee Kieler via Consumerist