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Green Mountain Coffee Roasters to Buy Van Houtte

Green Mountain Coffee Roasters said Tuesday that it will pay $890 million to purchase Canadian competitor Van Houtte.

AP

The deal is the latest in a series of takeovers, including Diedrich Coffee.

Green Mountain said Van Houtte will give it more access to the Canadian market. As a Keurig licensee, Van Houtte will also help to push the coffee system's usage there.

Van Houtte President and CEO Gerard Geoffrion will remain with the company. The transaction in targeted to close by year's end.

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