Keurig Green Mountain shares were up nearly 11% Friday after announcing it had partnered with Kraft to start selling that firm’s coffee products in K-Cups.
Caffeine fiends will now be able to pop brews from Maxwell House and McCafé into their machines.
“At Kraft, we have made significant strides in rejuvenating our coffee business across all segments – including mainstream, premium and on-demand – by focusing on driving profitable growth for our brands and our customers,” said Dino Bianco, Kraft’s Executive Vice President and President, Beverages. “This agreement offers the opportunity for expanded distribution across multiple channels, and is another example of our focus on long-term growth in action.”
Terms of the deal were not disclosed.
Keurig Green Mountain shares are up nearly 60% in 2014 and 360% from lows reached in July 2012 in the months following David Einhorn’s announced short position.
Friday shares were trading at $US130.56.
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