Dive Brief:
- Keurig Green Mountain is set to acquire Bevyz Global Ltd.'s "outstanding equity...that it does not already own," according to a news release. Earlier Thursday, Keurig purchased the Laughing Man Coffee and Tea brand. It will add some Laughing Man coffees in its K-Cup packs starting spring 2015.
- Keurig's President and CEO Brian Kelley said, "The acquisition of Bevyz adds unique and complementary technology and research and development capabilities."
- Once the acquisition finalizes, Bevyz's approximately 50 employees will join the Keurig staff. "We are extremely excited about this development as we believe Keurig’s innovative approach and business model are directly aligned with our mission to deliver superior, in-home beverage experiences to consumers,” said Edouard Sterngold, the founder and CEO of Bevyz.
Dive Insight:
Many coffee happenings in recent days suggest the industry is paying attention to coffee and coffee products' futures. Keurig's plans seem to make sense with its launch of a new cold brew machine with Coca-Cola approaching next fall.