WATERBURY, Vt. – Keurig Green Mountain, Inc. (Keurig) (NASDAQ:GMCR) announces that on February 21, 2015 it entered into an agreement to repurchase approximately 5.2 million shares of Keurig common stock beneficially owned by Luigi Lavazza S.p.A. (“Lavazza”), at a purchase price of $119.18 per share.
The purchase price represents a 3.0% discount off the closing price of Keurig common stock on February 20, 2015.
The repurchase will be financed through cash balances and Keurig’s existing credit facility.
In connection with the entry into the stock repurchase agreement, Keurig also announced that it has entered into an amendment to its existing common stock purchase agreement with Lavazza dated August 10, 2010.
The amendment eliminates Lavazza’s pre-emptive rights on future issuances of the Company’s common stock and will become effective as of the closing of the stock repurchase.
