Green Mountain Coffee Roasters Inc. (GMCR) said it will begin selling ConAgra Foods Inc.'s (CAG) Swiss Miss hot cocoa in its K-Cups, as the single-cup giant ramps up its offerings, trying to gain share in a competitive coffee market.
Green Mountain said it will start selling the popular brand of hot cocoa in its wildly popular K-Cup portion packs for its single-cup brewing system.
Single-serving coffee packets have gained popularity quickly recently, especially in office environments. Green Mountain's Swiss Miss hot cocoa packets will hit shelves in August.
Financial terms of the deal between Green Mountain and ConAgra weren't disclosed.
Green Mountain has been ramping up its single-cup offerings of late, in February agreeing to sell Dunkin' Donuts coffee in single-cup servings. "With Swiss Miss, we are adding another valued partner that expands consumer choice within the Keurig brewing system," said Green Mountain President and Chief Executive Lawrence Blanford.
Green Mountain also has a deal with J.M. Smucker Co. (SJM) in place, introducing Folgers and Millstone K-cups.
Shares of Green Mountain were up 1% to $65.97 in premarket trading. As of Wednesday's close, the stock had nearly doubled in value so far this year.
-By Nathan Becker, Dow Jones Newswires; 212-416-2855; firstname.lastname@example.org
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