The Coca-Cola Co. and Green Mountain Coffee Roasters, Inc. (GMCR) announced the closing of the previously announced private placement of GMCR common stock to The Coca-Cola Co. 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 Co.
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.
