Green Mountain Coffee Roasters (GMCR
) will buy gourmet coffee roaster Van Houtte for C$915 million ($891 million). Van Houtte is currently owned by investment fund Littlejohn & Co., which took the company private in a deal worth about C$600 million in 2007.
"The strategic and financial support provided by Littlejohn over the last three years was instrumental in helping transform our 90 year old company," Gerard Geoffrion, CEO of Van Houtte, said in a statement.
"Together, we have reenergized a leading North American coffee company and our management and employees are very excited about our future prospects under the ownership of Green Mountain."
The deal is expected to close by the end of 2010.