Coca-Cola and Green Mountain Coffee Roasters have signed a 10-year agreement to work together on the development and introduction of Coca-Cola’s global brand portfolio for use in GMCR's upcoming Keurig Cold at-home beverage system.
Under the agreement, the companies will cooperate to bring the Keurig Cold beverage system to consumers around the world. The companies also entered into a Common Stock Purchase Agreement; Coca-Cola will purchase a 10% minority equity position in GMCR.
As part of the strategic partnership, GMCR will be Coca-Cola's exclusive partner for the production and sale of Coca Cola-branded single-serve, pod-based cold beverages. The companies also will explore other opportunities to collaborate on the Keurig brand.
“With the Coca-Cola Company as a global strategic partner in our multi-brand at-home Keurig Cold beverage system, we believe there is significant opportunity to premiumize and accelerate growth in the cold beverage category by empowering consumers with an innovative, convenient way to freshly prepare their favorite cold beverages at the push of a button,” Brian P. Kelley, president and CEO of GMCR, said. “This global relationship combines the Coca-Cola Company’s unparalleled brand, distribution and marketing strengths with GMCR’s innovative technology and beverage system expertise.”
The Keurig Cold single-serve beverage system currently is under development with expected availability in fiscal year 2015.