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Latest headlines

Keurig axes cold-drink machine, offers full refund

By Jeremy Gerrard
Keurig to be sold for $13.9 billion
June 8, 2016

After less than a year on the market, Keurig is discontinuing its Kold home soda appliance and pods and offering a full refund to anyone who purchased the machine.

Since debuting last fall, sales of the soda machine have fallen. The beverage system was developed to offer consumers a convenient way to enjoy cold beverages made at home, including carbonated drinks, enhanced waters, juice drinks, sports drinks and teas—but came at a hefty price tag of $369, though this later dropped as sales declined.

With the announcement, the company says it will lay off approximately 130 employees, mainly at a Vermont facility which manufactures the cold-drink pods, according to the Associated Press.

Once optimistic about the possibilities, the Coca-Cola Company says its venture into the home cold-brew market was an educational experience. The company took a minor equity stake in Keurig in 2014 as party of a partnership to provide access to the beverage giant’s iconic brands.

“Our partnership with Keurig on the KOLD platform has provided a great opportunity for innovating and learning about new technologies that can deliver our beverages to consumers,” the company said in a statement. “Through it, we’ve gained valuable insights into what people want and expect from an in-home, single-serve cold beverage system. We will apply those learnings as we continue to explore innovation that will enable people to enjoy our brands in new ways.”

The Vermont-based company was purchased for nearly $14 billion earlier this year by JAB Holding Company which took the company private. Coca-Cola says it has since agreed to sell its equity stake—now about 17 percent—to JAB and will record a net gain of approximately $25.5 million.

KEYWORDS: beverage industry consumer trends food and beverage industry trends food and beverage manufacturing

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Jeremy Gerrard was Food Engineering's Digital/Online Editor. He is a graduate of Auburn University with a degree in journalism. His previous work experience includes years spent as a reporter with the Daily Local News out of Chester County, PA. In addition to writing feature articles for Food Engineering, Jeremy covered the Dry Processing, Field Reports and People and Industry news sections.

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