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NEW YORK — Coca-Cola is looking to tap into a new market, with plans to let customers make its sodas and other drinks at home.
The world’s biggest beverage maker said Wednesday that it’s buying a 10 percent stake in Green Mountain Coffee Roasters Inc. for $1.25 billion as part of an agreement to bring its familiar brands into the fast-growing at-home market. Green Mountain is known for its single-serve coffee makers, but is developing a machine for cold drinks as well.
The deal comes as SodaStream makes an aggressive push to make its at-home carbonation machines a fixture in US kitchens. The Israeli company has touted its machines as a cheaper, more environmentally friendly alternative to buying Coke and Pepsi drinks. It advertised in the past two Super Bowls, with its latest ad starring actress Scarlett Johansson. Although it’s in just 1 percent of US homes so far, SodaStream has noted that it’s in as many as 25 percent of homes in Sweden.
Investors sent Green Mountain’s stock soaring and SodaStream’s lower after the deal was announced.