Green Mountain Coffee Acquires Frontier Organic Coffee

Green Mountain Coffee Acquires Frontier Organic Coffee

WATERBURY, Vt.--Green Mountain Coffee Inc.(NASDAQ:GMCR) (www.greenmountaincoffee.com), a manufacturer of specialty coffee, purchased Frontier Organic Coffee from Norway, Iowa-based Frontier Natural Products Co-op (www.frontiercoop.com) for approximately $2.7 million in cash. Green Mountain Coffee financed the purchase, which includes the Frontier Organic Coffee brand and trade information, through its existing line of bank debt. Annual sales last year for Frontier Organic Coffee were more than $3.5 million.

"Frontier Organic Coffee will be a great addition to the Green Mountain Coffee family," said Robert P. Stiller, president and chief executive officer of Green Mountain Coffee. "Frontier's leadership in social responsibility and high-quality certified organic coffees will enhance our position in these areas of strategic importance to us. The acquisition of Frontier provides us with new opportunities to expand our presence in the rapidly growing natural foods market segment."