Details on Green Mountain Coffee Roasters planned $890 takeover of Van HoutteBy AP
Tuesday, September 14, 2010
Summary Box: Green Mountain to buy Van Houtte
ADDING TO THE MIX: Green Mountain Coffee Roasters Inc. said Tuesday that it will pay $890 million to purchase Canadian competitor Van Houtte. The deal is the latest in a series of takeovers, including Diedrich Coffee Inc.
OH CANADA: Green Mountain said Van Houtte will give it more access to the Canadian market. As a Keurig licensee, Van Houtte will also help to push the coffee system’s usage there.
DEAL DETAILS: Van Houtte President and CEO Gerard Geoffrion will remain with the company. The transaction in targeted to close by year’s end.