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Lavazza raises stake in Green Mountain Coffee
Sept 10 |
Sept 10 (Reuters) - Italian coffee roaster Luigi Lavazza SpA increased its stake in Green Mountain Coffee Roasters Inc to 6.8 percent of the company, a securities filing showed on Monday.
Lavazza previously had a stake of 4.99 percent in Green Mountain, owner of the Keurig single-cup coffee brewing system and the "K-Cups" that go with it.
Green Mountain shares were up 1.3 percent at $30.75 in after hours trading. They closed at $30.36 on the Nasdaq, up 9 percent on heavy volume.
That was their second straight session of steep gains following a bullish commentary by an analyst who initiated coverage on the stock with a "buy" rating.
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