Green Mountain to acquire Van Houtte
September 14, 2010
WATERBURY, VT. — Green Mountain Coffee Roasters, Inc. has announced an agreement through which it will acquire all the outstanding shares of Van Houtte for $890 million.
Van Houtte is a Montreal-based gourmet coffee brand in Canada, and roasts and markets gourmet coffee for home and office consumption and distributes through direct-to-store delivery and coffee service networks in Canada and the United States.
“We have had a strong and mutually beneficial relationship with Van Houtte since 2001 when they first became a Keurig licensee, and we’re confident that the company and its well known Canadian brands, including Van Houtte, Brulerie St. Denis, Les Cafes Orient Express Coffee and Brulerie Mont Royal are great additions to G.M.C.R. and our family of specialty coffee brands,” said Lawrence J. Blanford, president and chief executive officer of G.M.C.R. “We believe that Van Houtte, in combination with our Green Mountain Coffee, Tully’s, Timothy’s and Diedrich’s brands will contribute to our future success in Canada and throughout North America.
The transaction is expected to close by the end of the calendar year 2010.
“As a result of our long-term relationship as a Keurig licensee, we know there is a strong cultural and strategic fit between G.M.C.R. and Van Houtte,” said Gerard Geoffrion, president and c.e.o. of Van Houtte. “We believe the combination of our brands, employees and our respective geographic strengths makes for a stronger overall company and will enable us to continue to grow our presence in Canada.”