Coffee and tea producer Keurig Green Mountain has agreed to acquire around 85% stake that it was not previously owning in MDS Global Holding (Bevyz) for €178m.
Bevyz has developed a patented single-portion multi-drink system that dispenses a wide range of premium tasting hot and cold beverages.
Keurig Green Mountain president and CEO Brian Kelley said: "The acquisition of Bevyz adds unique and complementary technology and research and development capabilities.
"As a result of our strong balance sheet, we're able to make this strategic acquisition while investing in organic growth and returning cash to shareholders."
The transaction, which is subject to customary closing conditions, is expected to be completed in the next month.
Upon completion of the acquisition, Bevyz's employees will become part of Keurig's technology and product systems teams and are expected to continue to be located primarily in the Netherlands and Malta.
Bevyz founder and CEO Edouard Sterngold said: "We're excited to become part of the Keurig team and believe this acquisition is financially compelling for our shareholders and creates new opportunities for our employees."
In addition, Keurig will launch its Keurig Cold platform in the fall of 2015.
Image: Bevyz has developed a patented single-portion multi-drink system that dispenses a wide range of premium tasting hot and cold beverages. Photo: courtesy of KEKO64 / FreeDigitalPhotos.net.
