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Coca-Cola Is Now Keurig Green Mountain's Largest Shareholder

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When Coca-Cola (NYSE: KO) purchased a 10.1 percent stake in Keurig Green Mountain (NASDAQ: GMCR) in February, the iconic global beverage company secured a fast-growing partner for consumers to enjoy Coca-Cola products in a brand new way.

Keurig and Coca-Cola established into a long-term agreement in which Keurig will be Coca-Cola's exclusive partner for “the production and sale of The Coca-Cola Company-branded single-serve, pod-based cold beverages” for use in the Keurig cold brewing machine, currently in production.

Coca-Cola revealed on Monday evening that it had raised its stake in Keurig to 16 percent, the maximum position it can assume as per the original agreement in February.

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According to an SEC filing, Coca-Cola owns 26,037,771 shares in Keurig, up from 16.7 million as of February.

Shares of Keurig were trading higher by 5.32 percent at $116.60 in the pre-market trading session, while shares of Coca-Cola were trading slightly lower by 0.07 percent at $40.79 in the pre-market session.

Shares of Keurig are currently trading up 10 percent at $122.32, while Coca-Cola is up about 0.88 percent at $41.18.

Posted-In: Coca-cola keurig Keurig ColdNews Best of Benzinga

 

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