Coffee Machine Maker Keurig To Be Sold For Almost $14B
NEW YORK (AP) — Keurig, the single-cup coffee machine maker, says it has agreed to be sold to private equity firm JAB Holding Co. for almost $14 billion.
JAB Holding is offering $92 for each share of Keurig, a 78 percent premium from the stock's closing price of $51.70 on Friday. Keurig's stock is down nearly 61 percent since the beginning of the year.
Besides the machines, Keurig also sells coffee-filled K-cups that are used in the machines.
JAB Holding already has several coffee investments, including a controlling stake of Jacobs Douwe Egberts, the company behind Gevalia, Tassimo and other brands.
Keurig Green Mountain Inc. says it will remain headquartered in Waterbury, Vermont.
The deal is expected to close in the first quarter of next year.
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