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;
nathan.becker@dowjones.com
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