Keurig shares perk up on Kraft news

(Bloomberg) Keurig Green Mountain Inc. surged to a record high on Friday after announcing a deal to bring Kraft Foods Group Inc. coffee brands such as Maxwell House, Yuban and McCafe to its home brewing system. Kraft will offer its coffees in portion packs for Keurig machines as part of a multiyear licensing, manufacturing and distribution pact, according to a statement. That includes K-Cup packs, which make single cups of coffee, as well as the K- Carafes and Bolt packs for larger portions. The Kraft agreement helps Keurig by giving it the biggest family of coffee brands that isn’t already on its system, Mark Astrachan, an analyst at Stifel Financial Corp. in New York, said in a research note. Keurig shares jumped 13 percent to $133.36 at the close in New York, marking the biggest gain since February. Shares of the Waterbury, Vermont-based company have climbed 77 percent this year.