ATLANTA, Ga. and WATERBURY, Vt. – The Coca-Cola Company and Green Mountain Coffee Roasters, Inc. ( GMCR ) announced yesterday the closing of the previously announced private placement of GMCR common stock to The Coca-Cola Company for total gross proceeds of approximately $1.25 billion.
In connection with the closing, GMCR issued 16,684,139 newly issued shares of common stock at a purchase price of $74.98 per share to a wholly owned subsidiary of The Coca-Cola Company.
As previously announced, GMCR intends to execute a meaningful share repurchase program to reduce dilution from the transaction executed under GMCR’s existing $1.1 billion share repurchase authorization.
In addition, GMCR intends to use a portion of the proceeds from the new equity issuance to fund anticipated capital expenditures for its Keurig Cold™ beverage system over the next several years.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. , is recognized for its award-winning coffees, innovative Keurig Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by investing in sustainably-grown coffee, and donating a portion of its pre-tax profits to social and environmental projects. For more information visit: www.gmcr.com.