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Keurig Dr Pepper (KDP), the leading North American drinks company, has announced a strategic partnership with La Colombe which will see it take a 33% ownership stake in the US coffee roaster via a $300 million investment.
In a statement, KDP said the deal included a long-term sales and distribution agreement for La Colombe’s ready-to-drink coffee, as well as a manufacturing and distribution agreement for La Colombe branded K-Cup coffee pods.
Commenting on the deal, KDP chairman and CEO Bob Gamgort said: “We are excited to partner with Hamdi and the La Colombe team to drive value for both companies. This partnership will enable KDP to expand its reach into high growth ready-to-drink and super premium coffee segments and will meaningfully increase La Colombe’s availability to consumers”.
“I’m extremely excited to join forces with Bob and his team at KDP to bring La Colombe to every corner of this amazing country”, added La Colombe owner and chairman Hamdi Ulukaya. “I joined the La Colombe journey eight years ago because I believe in its mission, quality, craftsmanship and social impact – and that everyone deserves quality, crafted, natural coffee. With this partnership we’ll be closer to fulfilling the mission of providing exceptional coffee to all”.
KDP will start distributing La Colombe ready-to-drink coffee in late 2023, before launching La Colombe branded K-Cup pods in 2024. The equity investment awaits regulatory approval and aims to close by Q3.
Source: Keurig Dr Pepper
