Green Mountain Coffee Roasters Inc is launching a line of "Wellness Brewed" drinks for its Keurig single-serve coffee system, as the company seeks to diversify its offerings ahead of increased competition from lower-cost rivals.
Shares of Green Mountain, which said in June that it was exploring such a move, rose 3 percent in late morning trading.
The company is selling six varieties -- including its flagship Green Mountain coffee, Celestial Seasonings teas and Vitamin Burst fruit drinks -- with added ingredients such as antioxidant vitamins.
Green Mountain dominates the small-but-growing U.S. single-serve coffee market. But two of its patents governing design of its "K-Cups" expire this month, opening the door for other manufacturers, including those that make lower-priced private label products.
Green Mountain shares were up 64 cents, or 2.7 percent, at $24.47 on the Nasdaq.