How one founder braced for the competition

Filed under News digest

What do you do when a competitor the size of Starbucks Corp. comes out with its own version of your product?

Robert Stiller, the founder and chairman of Green Mountain Coffee Rosters in Waterbury, Vt., which makes the Keurig coffee brewer and K-Cup coffee, decided to hedge his bets by selling $66.3 million of his stock before news of Starbucks’ own single-cup coffee product hit the fan, Bloomberg reported. In fact, the company’s shares dropped 16 percent on March 9. The company’s situation could worsen when its significant K-Cup patents expire in September, opening the door for competitors to introduce their own single-cup brewing systems.

Read the full story: http://www.bloomberg.com/news/2012-03-26/green-mountain-founder-sold-stock-before-starbucks-k-cup-threat.html

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