Coca-Cola Co has raised its stake in Keurig Green Mountain Inc to 16 percent from 10 percent, making it the largest shareholder of the maker of the popular Keurig one-cup coffee brewer.
Coca-Cola announced a 10 percent stake in Keurig in February and said it would help launch the company's new cold drink machine. Coke had the option to raise its stake in Keurig to a maximum of 16 percent through open market purchases.
Coca-Cola now owns about 26 million shares of Keurig, up from 16.7 million as of February 27, according to a regulatory filing.
Keurig's machines use pods filled with coffee, tea or hot chocolate powder to brew one-cup drinks at home.
Keurig's shares closed at $110.71 on the Nasdaq on Monday. They have risen about 38 percent since Coke disclosed its 10 percent stake. Coca-Cola's stock closed at $40.82 on the New York Stock Exchange.