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$13.9 Billion Beverage Deal

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$13.9 Billion Beverage Deal

$13.9 Billion Beverage Deal
December 08
12:03 2015

Keurig Green Mountain, a US-based personal beverage system company, is being acquired by a JAB Holding Company-led investor group for a total equity value of approximately $13.9 billion. JAB is acquiring Keurig Green Mountain in partnership with strategic minority investors who are already shareholders in Jacobs Douwe Egberts (JDE), the largest pure-play FMCG coffee company in the world, including Mondelēz International and entities affiliated with BDT Capital Partners. At the close of the transaction, Keurig Green Mountain will be privately owned and will continue to be operated independently by the company’s management team and employees.

JAB Holding Company is a privately held group focused on long-term investments in companies with premium brands, attractive growth and strong margin dynamics in the consumer goods category. The group’s portfolio includes a controlling stake in Coty, a global leader in beauty, and controlling stakes in luxury goods companies including Jimmy Choo, Bally and Belstaff. JAB also has controlling stakes in Peet’s Coffee & Tea, a premier specialty coffee and tea company, Caribou Coffee Company, a specialty retailer of high-quality premium coffee products, Einstein Noah Restaurant Group, a leading company in the quick-casual segment of the restaurant industry, Espresso House, the largest branded coffee shop chain in Scandinavia, and Baresso Coffee, the first and largest branded coffee shop chain in Denmark.

JacobsDouweEgbertsCompressedBart Becht, chairman of JAB, comments: “Keurig Green Mountain represents a major step forward in the creation of our global coffee platform. It is a fantastic company that uniquely brings together premium coffee brands and new beverage dispensing technologies like the famous Keurig single serve machine. Keurig Green Mountain will operate as an independent entity to ensure it will further build on its coffee & technology strength and continue to serve all its partners to the best of its abilities.”

Brian Kelley, president and chief executive of Keurig Green Mountain, comments: “This transaction will deliver significant cash value for our shareholders and offers an exciting new chapter for our customers, partners and employees by combining Keurig Green Mountain with JAB’s global coffee platform. JAB fully supports Keurig Green Mountain’s culture and values as we continue to pursue our commitment to deliver innovative beverage solutions for consumers at the touch of a button.”

Brian Kelley, president and chief executive of Keurig Green Mountain.

Brian Kelley, president and chief executive of Keurig Green Mountain.

“The Coca-Cola Company is fully supportive of this transaction,” says Muhtar Kent, chairman and chief executive of The Coca-Cola Company. “We have enjoyed a strong partnership with Keurig Green Mountain, and will continue our collaboration with JAB in order to capitalize on the growth opportunities in the single-serve, pod-based segment of the cold beverage industry. We look forward to working with JAB, an experienced operator with a successful track record of investing in and growing consumer companies.”

Irene Rosenfeld, chairman and chief executive of Mondelēz International, comments: “Keurig Green Mountain is a strategic asset that provides immediate access to the US, the largest coffee market in the world, and to on-demand, the fastest growing segment of the market. By leveraging our existing investment in JDE and not contributing incremental capital, we have the opportunity to diversify our participation in the global coffee category, while continuing to invest in our core snacking business to deliver significant value for our shareholders over the long term.”

The transaction is expected to close during the first calendar quarter of 2016, subject to customary closing conditions, including receipt of regulatory approvals. The transaction requires the affirmative vote of holders of a majority of Keurig Green Mountain’s outstanding shares entitled to vote thereon.

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