Coca-Cola Raising Keurig Stake to 16%, Becoming Top Owner
This article is for subscribers only.
Coca-Cola Co. will become Keurig Green Mountain Inc.’s largest shareholder after raising its stake to 16 percent, doubling down on the maker of Keurig coffee brewers at a time when consumers are increasingly shunning sugary sodas.
Keurig jumped 7.6 percent to $119.07 after Coca-Cola announced the plan in a filing today. The soft-drink company will own about 26 million shares within nine months after it exercises an option to add additional stock. It had bought an initial stake of 10 percent in February.