Green Mountain acquires Timothy's Coffees
November 13, 2009
by Eric Schroeder
WATERBURY, VT. — Green Mountain Coffee Roasters, Inc., a leader in the specialty coffee industry, has acquired Toronto-based Timothy’s Coffees of the World, Inc. from an affiliate of Sun Capital Partners, Inc. for approximately $157 million. The acquisition includes the Timothy’s World Coffee brand and wholesale business, but it does not include retail operations, which were acquired by Bruegger’s Enterprises, Inc. in a separate transaction.
Timothy’s is a premium coffee company that produces specialty coffee, tea and other beverages in a variety of packaged forms, including K-Cup portion packs for the Keurig Single-Cup Brewing System sold under the Timothy’s World Coffee, Emeril’s and Kahlua Original K-Cup brands. Timothy’s will be maintained as a wholly owned Canadian subsidiary with operations integrated into Green Mountain’s Specialty Coffee Business Unit.
“Timothy’s is a great addition to G.M.C.R.’s family of brands,” said Lawrence J. Blanford, president and chief executive officer of Green Mountain. “We have been collaborating together since they became a Keurig licensee and know the company is a great strategic and cultural fit.”
Mr. Blanford added that the acquisition gives Green Mountain a Canadian presence and coffee roasting facility in Toronto while accelerating the company’s geographic expansion with a Canadian brand platform.
Bruegger’s Enterprises, Inc., an affiliate of Sun Capital Partners, has acquired the retail portion of Timothy’s Coffees. Green Mountain and Bruegger’s have agreed on a five-year supply agreement under which Green Mountain will supply coffee to all of Bruegger’s 290 locations in the United States.