Green Mountain Coffee Roasters completes sale of Van Houtte USA Holdings to Aramark Refreshment Services for roughly US$145M
October 4, 2011
(Green Mountain Coffee Roasters)
– Green Mountain Coffee Roasters, Inc., (NASDAQ:GMCR - News), a leader in specialty coffee and coffeemakers, today announced it has completed the sale of all outstanding shares of Van Houtte USA Holdings, Inc., also known as the Van Houtte U.S. Coffee Service business or "Filterfresh" business to ARAMARK Refreshment Services, LLC (ARAMARK) for an aggregate cash purchase price of approximately $145 million, subject to adjustment.
Initially announced on August 29, 2011, the transaction was completed after all of the closing conditions were satisfied, including the receipt of the required regulatory approval in the United States. The Purchase Agreement contains customary representations, warranties and covenants and, subject to certain limitations, each party has agreed to indemnify the other for breaches of said representations, warranties and covenants and other specified matters.
On December 17, 2010, GMCR acquired Van Houtte through the purchase of all of the outstanding capital stock of LJVH Holdings, Inc. At the time of the acquisition, GMCR announced it would pursue a sale of a portion of the former Van Houtte business, namely Van Houtte's U.S. Coffee Service business, also known as Filterfresh. GMCR has accounted for all the assets and liabilities relating to the Filterfresh business as held-for-sale in its most recent financial statements.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ:GMCR - News), is recognized for its award-winning coffees, innovative Keurig® Single-Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating at least five percent of its pre-tax profits to social and environmental projects.
GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. GMCR encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to GMCR's automatic email news release delivery, individuals can receive news directly from GMCR as it is released.