The two companies will also work together to build and market espresso machines and single-serve espresso capsules designed by the Italian company, Lavazza said in a statement.
The investment is expected to be approved in September by US authorities.
Green Mountain Coffee Roasters sells more than a hundred specialty coffee brands in the United States and Canada and is one of the leader in the sale of espresso machines in North America.
It closed 2009 with revenues of $803 million.
Family-owned Lavazza said the deal was the biggest it had ever made abroad and part of its recent aggressive push in international markets.
Over the past four years the company has made acquisitions in India, Brasil and Argentina.
Lavazza operates in 90 countries and in 2009 posted a turnover of more than €1 billion.
Source: AFP
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