USA: Green Mountain Coffee Roasters acquires Frontier Organic Coffee business
Green Mountain Coffee, Inc. (NASDAQ: GMCR) announced that effective yesterday it has acquired Frontier Organic Coffee(TM) from Frontier Natural Products Co-op of Norway, Iowa. Green Mountain Coffee purchased the Frontier Organic Coffee brand, its trade information, and various other assets related to its coffee business from Frontier Natural Products Co-op for approximately $2.7 million in cash, including estimated transaction costs. The Company financed the acquisition through its existing line of bank debt. Frontier is one of the largest importers and roasters dedicated to 100% certified organic coffee in North America. Offering both bulk and packaged coffee, Frontier Organic Coffee's annual sales last year were over $3.5 million.
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