Italy's Lavazza ups stake in Green Mountain

LONDON Fri May 10, 2013 9:32am EDT

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LONDON May 10 (Reuters) - Italian coffee company Lavazza said on Friday it had increased its stake in U.S.-based Green Mountain Coffee Roasters Inc to 8 percent as it reported 2012 results.

The Turin-based group, founded by the Lavazza family in 1895, said the move confirmed its belief in the strategic value of the partnership with the U.S. group.

Green Mountain, which makes Keurig single-serve brewers and K-Cups, raised its full-year earnings outlook on Wednesday, sending its shares up almost 16 percent.

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