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In a strategic venture into the specialty coffee segment, Keurig Dr Pepper has inked a $300 million investment deal with La Colombe Coffee Roasters. The agreement includes distribution and sales of La Colombe's ready-to-drink coffee products and a license to manufacture its K-Cup coffee pods.
Under the deal, Keurig Dr Pepper will invest $300 million in cash to La Colombe, and in exchange, the Plano, Texas-based soft drink company will get a 33% ownership stake. This is Keurig Dr Pepper's first investment in the specialty coffee business segment. The companies expect their collaboration to bring fruit starting in the latter part of 2024.
As per World Coffee Portal, Keurig Dr Pepper will sell and distribute the ready-to-drink coffee products of La Colombe. From the last quarter of 2023, the company will deliver the RTDs to its direct store distribution network. The license will also allow KDP to make and sell the coffee roaster's K-Cup coffee pods in the United States and Canada next year.
Meanwhile, La Colombe owns and runs 32 stores in Austin, Los Angeles, New York, Philadelphia, Chicago, Boston, and Washington, D.C. It will slowly dive into the RTD distribution business through its collaboration with Keurig Dr Pepper.
"We are excited to partner with Hamdi and the La Colombe team to drive value for both companies," Bob Gamgoty, Keurig's chairman and chief executive officer, said in a press release. "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."
The majority stake owner and chairman at La Colombe, Hamdi Ulukaya, also said, "I am extremely excited to join forces with Bob and his team at KDP to bring La Colombe to every corner of this amazing country and 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."
He added that La Colombe would be one step closer to achieving its mission of providing exceptional coffee to everyone through this deal.
Photo by: Keurig Dr Pepper Press Release
