Retailers have teased and rolled out online deals for days, even weeks, but the real Black Friday is here.
Aramark will pay $145 million for Green Mountain’s Filterfresh business.
Online retailer, direct marketer and manufacturer Green Mountain Coffee Roasters Inc. has agreed to sell its Van Houtte U.S. coffee service business to Aramark Refreshment Services LLC for $145 million. Aramark will acquire all outstanding shares of Van Houtte USA Holdings Inc., a part of Green Mountain’s commercial coffee business also known as Filterfresh.
Green Mountain acquired Van Houtte, a Canadian coffee retailer, for about $905 million (C$915 million) in cash through the purchase of LJVH Holdings Inc. in December 2010. At the time of the acquisition, Green Mountain, No. 99 in the Internet Retailer Top 500 Guide, said it would pursue the sale of a portion of the former Van Houtte business.
“We believe there is a strong strategic fit between the Filterfresh business and Aramark and we look forward to continuing to work with Aramark as a valued distributor,” says Dave Manly, general manager of the Away From Home business for Green Mountain’s Keurig business unit, which manages the Filterfresh business.
The purchase agreement is subject to various closing conditions, including obtaining regulatory approval in the United States.