Keurig Green Mountain Acquires Bevyz For $220 Million

Keurig Green Mountain Inc GMCR announced Thursday that it has entered into an agreement to acquire the outstanding equity of MDS Global Holding p.l.c. ("Bevyz") that it does not already own.

The transaction is valued at approximately €178 million euros, in cash, or approximately $220 million based on exchange rates as of the close of business on December 3, 2014.

Keurig currently owns approximately 15 percent of Bevyz on a fully diluted basis and will fund the acquisition with cash on hand. The transaction is subject to customary closing conditions and is expected to close in the next month.

"We are extremely excited about this development as we believe Keurig's innovative approach and business model are directly aligned with our mission to deliver superior, in-home beverage experiences to consumers," added Edouard Sterngold, Bevyz's founder and CEO. "We're excited to become part of the Keurig team and believe this acquisition is financially compelling for our shareholders and creates new opportunities for our employees."

Keurig Green Mountain traded at $134.24 in the after market, down 0.10 percent.