Keurig Green Mountain Inc., the specialty coffee roaster, packager and distributor announced that beverage king Coca-Cola (NYSE: KO – $41.06) is taking an increased position in the company. The deal that was originally announced back in February had Coke acquiring a 10% equity interest, or about 16.7 million shares for roughly $1.25 billion. However, Coca-Cola said that it has already purchased another 6% of GMCR’s outstanding stock, bringing its total ownership stake to 16%. Additionally, KO has the right to buy another 6.5 million shares as part of the pact. Coke is being challenged in a slow-growth carbonated sugary beverage environment and needs to look at diversification to stimulate future sales. Coca-Cola shares have been in a trading range since mid-2012, but provide investors with an above average 3% yield and I consider them a worthwhile conservative long-term holding.