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Related Party Transactions
6 Months Ended
Mar. 29, 2014
Related Party Transactions  
Related Party Transactions

15.       Related Party Transactions

 

On February 5, 2014, the Company entered into a strategic collaboration arrangement with The Coca-Cola Company (“Coca-Cola”) to build and commercialize a global cold pod-based beverage platform.  Concurrently, the Company entered a Stock Purchase Agreement with Atlantic Industries, a wholly owned subsidiary of Coca-Cola, whereby Atlantic Industries purchased approximately 10% of the Company’s outstanding common stock.

 

Under the arrangement, Coca-Cola is responsible for supplying the beverage base for pods to be sold under brands owned by Coca-Cola and the Company is responsible for the development and funding for all pod and cold beverage brewer technology.  Coca-Cola will supply the beverage base to the Company and the Company will manufacture pods.  Coca-Cola and the Company will each sell the beverage pods in their respective designated channels.  Commercialization is currently expected to occur in fiscal 2015.