Today, the iPhone is the ultimate mobile shopping device: 69.5% of mobile sales occur on smartphones while 30.5% occur on tablets, and 61.4% of ...
Green Mountain Coffee Roasters acquires Timothy’s Coffees of the World
Green Mountain Coffee Roasters has acquired Timothy’s Coffees of the World for nearly $157 million in cash from an affiliate of private equity firm Sun Capital Partners Inc.
E-retailer and wholesaler of coffee and related products Green Mountain Coffee Roasters Inc. has acquired the coffee brand and wholesale operations of Toronto-based Timothy’s Coffees of the World Inc. for nearly $157 million in cash from an affiliate of private equity firm Sun Capital Partners Inc.
Green Mountain Coffee Roasters will operate Timothy’s as a wholly owned Canadian subsidiary with operations integrated into the company’s specialty coffee business unit.
Lawrence J. Blanford, president and CEO of Waterbury, VT-based Green Mountain Coffee Roasters says the acquisition will provide the company with a Canadian presence and coffee roasting facility. “It will accelerate GMCR’s geographic expansion with a Canadian brand platform that includes manufacturing and distribution synergies,” he says.
Timothy’s nearly 100 retail locations throughout Canada were not part of the acquisition. Bruegger’s Enterprises Inc. has purchased the retail portion for an undisclosed amount.
Green Mountain Coffee Roasters is No. 120 in the Internet Retailer Top 500 Guide (a PDF version of the company’s financial and operating profile can be ordered by clicking on its name).