Keurig Green Mountain, the manufacturer of that famous coffeemaker and notoriously environmentally unfriendly coffee pods, has been sold to a private equity firm for nearly $14 billion. The quiet transaction — at $13.9 billion — puts the Keurig brand under the command of the JAB Holding Company, which also owns Peet’s Coffee.
Keurig’s stock will now be worth about $92 per share, or approximately 77.9 percent premium over the company’s closing stock price before the acquisition, according to Forbes.
“Keurig Green Mountain represents a major step forward in the creation of our global coffee platform,” Bart Becht, chairman at JAB, said in a statement. “It is a fantastic company that uniquely brings together premium coffee brands and new beverage dispensing technologies like the famous Keurig single-serve machine.”
Keurig, in recent months, has suffered a sales slump and had to cut about five percent of its workforce, likely due in part to the fact that the company has been criticized for its non-recyclable plastic containers, which it has vowed to replace by 2020.