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MALTA - A few short months after launching its hot and cold beverage dispensing system in the United States and partnering with Marley Coffee, Maltese-based Bevyz Global Ltd. announced Keurig Green Mountain has acquired the company for approximately $220 million. The company, founded in 2004, developed a single-portion, multi-drink system.
“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,” said Edouard Sterngold, Bevyz’s founder and c.e.o. “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.”
“The acquisition of Bevyz adds unique and complementary technology and research and development capabilities,” said Brian Kelley, Keurig’s President and c.e.o. “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.”
Following the acquisition, Bevyz’s roughly 50 employees will become part of Keurig’s technology and product systems teams and are expected to continue to be located primarily in the Netherlands and Malta. Learn more at www.bevyz.com