WATERBURY, Vt. & MINNEAPOLIS--(BUSINESS WIRE)--
Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR) and Caribou Coffee
announced that the companies have renewed their partnership with a
10-year agreement for the manufacturing, marketing, distribution, and
sale of Caribou Coffee in Keurig® pack formats for Keurig®
consumer and commercial hot brewing systems. As a part of the agreement,
the companies will begin offering Caribou Coffee in carafe formats for
the Keurig® 2.0 brewing system and Keurig® Bolt®
carafe brewing system.
“Today's announcement recognizes the tremendous success of the strategic
partnership between Keurig and Caribou Coffee,” said John Whoriskey,
president, U.S. sales and marketing at Keurig. “Caribou Coffee has been
an important part of the Keurig family of brands, and we're excited to
continue our relationship and bring Keurig users the Caribou Coffee they
love in carafe formats at home or in the office.”
Caribou Coffee and Keurig first entered into a partnership in January
2007. With this announcement, the companies have extended and broadened
their partnership in the United States and Canada to offer Caribou
Coffee in carafe formats compatible with Keurig's new Keurig®
2.0 brewing system for the home and Keurig® Bolt®
carafe brewing system for commercial settings. With the next generation
Keurig® 2.0 home brewing system, consumers are able to brew
both a single cup and a carafe of coffee from a Keurig® brand
pack. Caribou Coffee K-Carafe™ packs are expected to be
available for Keurig® 2.0 brewers beginning in the spring of
2015. The Keurig® Bolt® brewing system offers away
from home users in offices and foodservice locations the ability to brew
a high quality, fresh 64-ounce pot of coffee in approximately two
minutes from a single pack.
“The expansion of our partnership will provide our guests with more
convenience as they'll be able to enjoy their Rainforest Alliance
Certified™ cup of Caribou Coffee through Keurig K-Carafe and
Bolt packs,” said Matt Spanjers, vice president of business development
and strategic partnerships at Caribou Coffee. “To date we've sold more
than one billion K-Cup packs and we're thrilled to continue to develop
our successful partnership with Keurig.”
Keurig® hot system brewers use innovative brewing technology
to deliver a fresh-brewed, perfect single cup or carafe of hot or brewed
over ice coffee, tea, cocoa, or fruit brews every time at just the touch
of a button. With Keurig® 2.0 brewing systems, consumers
continue to get the same Keurig quality, simplicity, and beverage choice
they expect with 60 brands and nearly 400 beverage varieties currently
available, all brewed with Keurig's new beverage-optimizing brewing
technology.
About Caribou Coffee
Founded in 1992, Caribou Coffee is the second largest company-operated
premium coffeehouse in the United States with more than 268* company
owned stores and 126* domestic license locations in 18* states and 188*
international franchise stores in 10* countries. Caribou Coffee provides
high-quality, handcrafted beverages and food options to fuel life's
adventures, both big and small. Known for a commitment to
sustainability, the Company was the first major U.S. coffeehouse to
serve 100% Rainforest Alliance Certified™ coffees and espresso. Caribou
Coffee products can also be found in grocery stores, mass retailers,
club stores, foodservice providers, hotels, entertainment venues and
online. For more information, visit www.cariboucoffee.com.
*Store counts are accurate as of October 20, 2014. For updated numbers
contact [email protected]
About Keurig Green Mountain, Inc.
As a leader in specialty coffee, coffee makers, teas and other
beverages, Keurig Green Mountain (Keurig) (NASDAQ: GMCR), is recognized
for its award-winning beverages, innovative brewing technology, and
socially responsible business practices. The Company has inspired
consumer passion for its products by revolutionizing beverage
preparation at home and in the workplace. Keurig supports local and
global communities by investing in sustainably-grown coffee and by its
active involvement in a variety of social and environmental projects. By
helping consumers drink for themselves, we believe we can brew a better
world. For more information visit: www.KeurigGreenMountain.com.
To purchase Keurig® products visit: www.Keurig.com or www.Keurig.ca.
Keurig routinely posts information that may be of importance to
investors in the Investor Relations section of its website, www.KeurigGreenMountain.com,
including news releases and its complete financial statements, as filed
with the SEC. The Company encourages investors to consult this section
of its website regularly for important information and news.
Additionally, by subscribing to the Company's automatic
email news release delivery, individuals can receive news directly
from Keurig as it is released.
Keurig Green Mountain Forward-Looking Statements
Certain information in this press release constitutes "forward-looking
statements." Forward-looking statements can be identified by the fact
that they do not relate strictly to historical or current facts. They
often include words such as "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "seeks" or words of similar meaning, or
future or conditional verbs, such as "will," "should," "could," "may,"
"aims," "intends," or "projects." However, the absence of these words or
similar expressions does not mean that a statement is not
forward-looking. These statements may relate to: the expected impact of
raw material costs and our pricing actions on our results of operations
and gross margins, expected trends in net sales and earnings performance
and other financial measures, the expected productivity and working
capital improvements, the success of introducing and producing new
product offerings, the impact of foreign exchange fluctuations, the
adequacy of internally generated funds and existing sources of
liquidity, such as the availability of bank financing, the expected
results of operations of businesses acquired by us, our ability to issue
debt or additional equity securities, our expectations regarding
purchasing shares of our common stock under the existing authorizations,
projections of payment of dividends, the impact of pending shareholder
litigation, and the impact of antitrust litigation pending against the
Company in the United States and Canada. A forward-looking statement is
neither a prediction nor a guarantee of future events or circumstances,
and those future events or circumstances may not occur. Management
believes that these forward-looking statements are reasonable as and
when made. However, caution should be taken not to place undue reliance
on any such forward-looking statements because such statements speak
only as of the date when made. We expressly disclaim any obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise. In addition,
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
our Company's historical experience and our present expectations or
projections. These risks and uncertainties include, but are not limited
to, those described in Part I, "Item 1A. Risk Factors" and Part II,
"Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Form 10-K filed with the Securities and
Exchange Commission for the fiscal year ended September 27, 2014, and
elsewhere in that report and those described from time to time in our
future reports filed with the Securities and Exchange Commission.
KGM-G
