Handed to you by a barista, or dripped straight into your mug via small plastic cup?
The Luxembourg-headquartered investment firm JAB – which owns Minneapolis-based Caribou Coffee after a purchase in 2012 – is expanding its coffee presence with an agreement to buy Keurig Green Mountain, the companies announced Monday.
The deal for the Keurig company is worth $13.9 billion.
When JAB bought Caribou a few years ago, it paid $340 million, Reuters reported.
Keurig and Caribou actually have a deal going back to 2007, where the chain's coffee beans were offered in the "K-cups," the Business Journal reported. The news outlet now says that's been a "key driver" in the success Caribou has had with commercial sales.
JAB meanwhile, as the New York Times puts it, "is on a caffeine-fueled binge to roll up the global coffee industry." It also has controlling stakes in Peet's Coffee, Espresso House, Baresso Coffee and the group behind Einstein's Bagels.
The firm also manages money for Austria's Reimann family – about $16 billion, Bloomberg reports.
Quartz last year said JAB is "on a mission to control your breakfast." And one analyst told Bloomberg the firm is trying to become "the Budwesier of coffee."