WATERBURY, Vt.--(BUSINESS WIRE)-- Keurig Green Mountain, Inc. (Keurig) (NASDAQ:GMCR), a leader in specialty coffee, coffee makers, teas and other beverages with its innovative brewing technology, today announced that on February 21, 2015 it entered into an agreement to repurchase approximately 5.2 million shares of Keurig common stock beneficially owned by Luigi Lavazza S.p.A. ("Lavazza"), at a purchase price of $119.18 per share. The purchase price represents a 3.0% discount off the closing price of Keurig common stock on February 20, 2015. The repurchase will be financed through cash balances and Keurig's existing credit facility.
In connection with the entry into the stock repurchase agreement, Keurig also announced that it has entered into an amendment to its existing common stock purchase agreement with Lavazza dated August 10, 2010. The amendment eliminates Lavazza's pre-emptive rights on future issuances of the Company's common stock and will become effective as of the closing of the stock repurchase.
About Keurig Green Mountain, Inc.
As a leader in specialty coffee, coffee makers, teas and other beverages, Keurig Green Mountain (Keurig) (NASDAQ: GMCR), is recognized for its award-winning beverages, innovative brewing technology, and socially responsible business practices. The Company has inspired consumer passion for its products by revolutionizing beverage preparation at home and in the workplace. Keurig supports local and global communities by investing in sustainably-grown coffee and by its active involvement in a variety of social and environmental projects. By helping consumers drink for themselves, we believe we can brew a better world. For more information visit: www.KeurigGreenMountain.com.
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