Green Mountain shares sizzle on Starbucks deal

Green Mountain Coffee Roasters shares are soaring today on
news of a renewed deal with coffee giant Starbucks.

Green Mountain Coffee

Green Mountain Coffee

Shares were up more than 24 percent at midday to $73.90.

Green Mountain has a sizable presence in Knox County with
about 900 employees and a roasting and distribution plant in Forks of the River
Industrial Park, according to the Knoxville Business Journal Book of Lists.

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Green Mountain and Starbucks announced Wednesday that they
had signed an agreement to expand “their successful partnership.”

Financial terms of the deal were not disclosed, but the
companies said that over the next five years Starbucks would triple the number
of products sold for Green Mountain’s Keurig single serve brewing system.

Trading volume is off the charts with more than 16 million
shares changing hands by midday, compared to normal daily volume of about 3.2
million.

Click here for Motley Fool’s take on the deal.

Click here for the Green Mountain/Starbucks news release.

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