Market Overview

Notable Press Releases For Monday, February 10

Notable Press Releases For Monday, February 10

Every day, a glut of press releases flood the news wires but other than the most storied stocks, investors never see many of them. Here are a few from today that didn’t make headlines but are important for your fundamental research.

Krispy Kreme and Green Mountain Coffee Sign K-Cup Partnership

Green Mountain Coffee (NASDAQ: GMCR) announced that it was partnering with Krispy Kreme (NYSE: KKD) in a multiyear agreement to bring Krispy Kreme signature coffee to the K-cup family.

The companies plan to launch the new line of coffees on, Krispy Kreme stores, and numerous retail outlets by the end of 2014, according to the release.

“GMCR is the pioneer of single cup brewing technology, and we are proud to partner with such a highly regarded company,” said Jim Morgan, Chairman, President and CEO of Krispy Kreme. “We look forward to bringing the joy of our great Krispy Kreme coffee into the homes of consumers through the convenience of the Keurig system.”

Dreamworks to Publish Digital and Print Books Based on Current Franchises

Dreamworks (NASDAQ: DWA) announced the formation of Dreamworks Press, a division of Dreamworks animation that will create digital and print books based on current and well-known franchises.

According to the release, this new division will establish a year-round presence at retailers as well as give the company a diverse range of formats and price points.

The company will partner with Perseus’ Publishers Group for distribution.

"Publishing is a crucial component of any successful franchise, and owning and developing this capability in-house will give us an unprecedented platform to expand the worlds of our most beloved characters as well as introduce families to new characters from within our library,” said DreamWorks Animation's Head of Franchise Shawn Dennis

Related: PreMarket Primer: Monday, February 10, New Fed chief Takes The Reigns

Microchip Technology to Purchase Supertex

Microchip Technology (NASDAQ: MCHP) announced this morning that it would acquire Supertex Incorporated (NASDAQ: SUPX) for $33 per share—a 33 percent premium to Friday’s close of $24.38.

The acquisition was unanimously approved by the Boards of Directors of each company and should close in the second quarter of this year.

“We are pleased to have Supertex become part of the Microchip team. Supertex's deep domain knowledge in high voltage analog and mixed signal technologies, and strong position in the Medical, Industrial and Lighting markets, complement many of Microchip initiatives in these areas. We believe that combining Supertex's business with Microchip's Analog business will enable significant synergies and cross selling opportunities,” said Steve Sanghi, President and CEO of Microchip Technology.

Disclosure: At the time of this writing, Tim Parker had no position in the companies mentioned.

Posted-In: dreamworks Green Mountain CoffeeM&A News Movers & Shakers Pre-Market Outlook Press Releases General Best of Benzinga


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