Shares of Green Mountain Coffee GMCR are bucking the market's downtrend this morning after Luigi Lavazza agreed to purchase 7% of its common stock.
Lavazza, an Italy-based maker of coffee machines, will retain an option to buy up to 15% of Green Mountain Coffee stock as the two companies work toward a development, marketing, and distribution agreement.
Shares of Green Mountain are higher by $1.14, or 3.62%, to $32.60.
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