Green Mountain Coffee acquires Van Houtte
December 20, 2010
by Eric Schroeder
WATERBURY, VT. — Green Mountain Coffee Roasters, Inc. has completed its acquisition of LJVH Holdings Inc. (Van Houtte) for approximately C$915 million ($905 million). Van Houtte roasts and markets coffee for home and office consumption under the Van Houtte, Brûlerie St. Denis, Les Cafés Orient Express Coffee and Brûlerie Mont Royal brands. Additionally, Van Houtte produces K-Cup portion packs for the Keurig Single-Cup Brewing System under the Van Houtte, Bigelow and Wolfgang Puck K-Cup brands.
“We are very pleased to welcome Van Houtte and its approximately 1,800 employees into the G.M.C.R. family,” said Lawrence J. Blanford, president and chief executive officer of G.M.C.R. “We are confident that Van Houtte, with its well-known portfolio of brands and strong management team, will help drive G.M.C.R’s future success in Canada and throughout North America.”
G.M.C.R. expects the Van Houtte acquisition to be neutral to slightly dilutive to earnings per share in the first 12 months after closing, and accretive thereafter. The company said it is financing the Van Houtte acquisition through a combination of cash on hand and new debt financing.