On Monday Keurig, the single-cup coffee machine maker, confirmed that it will be acquired by JAB Holding Co. for about $13.9 billion.
The Wall Street Journal reports that, “Keurig will be privately owned and will continue to be operated independently by the company’s management team and employees.” Moreover, Keurig Green Mountain will continue to be headquartered out of Waterbury, Vermont.
Over the past year, Keurig struggled in the marketplace with the rollout of its Keurig Kold machine — many consumers claimed that the device was too expensive, slow and bulky.
The company also recently debuted single-serve soup pods in partnership with Campbell Soup Company to counter lagging sales.
With the combined faltering of the Keurig Kold and an overall decline in demand for its hot brewers and K-cups (the pods that go with the machine), the company experienced an unanticipated problem with no immediate remedy.
Keurig Green Mountain’s decision to be acquired signals an end of sorts to the dramatic story of the company who pioneered the popularity of single-cup brewing systems.
The deal will likely close in early 2016.