WATERBURY, Vt. -- Keurig Green Mountain Inc. moved its investment into the at-home, single-serve beverage market deeper this month with its acquisition of Bevyz, an at-home drink-maker that "places a full assortment of sparkling, still, hot or cold beverages at your fingertips."
Keurig, a leader in specialty coffee, coffee makers, teas and other beverages with its at-home brewing technology, announced the acquisition of Bevyz owner MDS Global Holding p.l.c. on Dec. 4. The transaction is valued at approximately $220 million.
The purchase is another move by Keurig toward offering a make-it-at-home solution for carbonated beverages and other drinks. It previously announced plans to launch its Keurig Cold platform in the fall of 2015. It partnered with Coca-Cola Co. in February planning to collaborate on the development and introduction of Coca‑Cola Co.'s global brand portfolio for use in Keurig’s forthcoming Keurig Cold at-home beverage system. In September, it was announced that Honest Tea will be the first brand from the Coca‑Cola Co. available in Keurig's K-Cup packs.
Meanwhile, PepsiCo partnered with Bevyz in March, with plans to beat Coca-Cola to the home-brewed punch using Bevyz's technology. That partnership went south mid-year, and Pepsi is now working with SodaStream.
"The acquisition of Bevyz adds unique and complementary technology and research and development capabilities," said Brian Kelley, Keurig's president and CEO. "As a result of our strong balance sheet, we're able to make this strategic acquisition while investing in organic growth and returning cash to shareholders."
Founded in 2004 by Edouard Sterngold and Eva Schwarz, Bevyz has developed a unique, patented single-portion multi-drink system that dispenses an extensive range of premium tasting hot and cold beverages.
As previously announced, Keurig will launch its Keurig Cold platform in the fall of 2015. This innovative new beverage system will offer consumers a convenient, sustainable way to enjoy freshly-made cold beverages including carbonated drinks, enhanced waters, juice drinks, sports drinks and teas at home with the one-touch simplicity, quality and variety, according to the company.
"We are extremely excited about this development as we believe Keurig's innovative approach and business model are directly aligned with our mission to deliver superior, in-home beverage experiences to consumers," added Edouard Sterngold, Bevyz's founder and CEO. "We're excited to become part of the Keurig team and believe this acquisition is financially compelling for our shareholders and creates new opportunities for our employees."
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