Keurig Green Mountain
|Traded as||NASDAQ: GMCR
S&P 500 Component
|Industry||Processed & Packaged Goods|
|Founded||Waitsfield, Vermont, U.S. (1981 )|
|Founders||Robert P. Stiller|
|Headquarters||Waterbury, Vermont, U.S.|
|Key people||Brian Kelley, President and CEO|
Keurig Green Mountain, formerly Green Mountain Coffee Roasters, is a publicly traded brand of coffee based at Waterbury in the U.S. state of Vermont. Keurig is a wholly owned subsidiary of Green Mountain Coffee Roasters, Inc., and sells many of their coffee varieties as K-Cups. The company offers over 100 different coffee selections, including certified organic, Fair Trade Certified, estate, specialty blends and flavored coffees that sell under the company's and Newman’s Own Organics brands.
Green Mountain Coffee Roasters began in 1981 as a small café in Waitsfield Vermont, roasting and serving coffee. Demand for the coffee grew, with local restaurants and inns asking to be supplied as well. While the original café is no longer owned by Green Mountain Coffee, the company now maintains its headquarters in Waterbury, Vermont where it has a 90,000-square-foot (8,400 m2) roasting and distribution facility.
Green Mountain Coffee Roasters went public in September 1993 and is listed on the NASDAQ Global Select Market under the stock symbol GMCR.
On September 14, 2010, Green Mountain Coffee bought Quebec-based coffee services company Van Houtte for $915 million. Green Mountain Coffee Roasters then sold the "Filterfresh" US coffee service portion of Van Houtte's business to Aramark on August, 29th 2011 for $145 million. On September 28, 2010, the company's stock rose to an all-time high, but the company disclosed after the markets closed that the Securities and Exchange Commission has requested documents and data from Green Mountain Coffee Roasters related to an inquiry into how it accounts for revenue. The company announced that U.S. regulators had inquired into some of Green Mountain's accounting practices, including revenue recognition, and the large inventory with a single vendor, M. Block. Most analysts believe that the company practices are sound.
On March 10, 2011, Green Mountain Coffee and Starbucks announced a deal whereby Starbucks would sell coffee in Keurig single-serve pods, and would in return sell Keurig machines in their stores as part of the deal. Green Mountain announced a similar agreement with Dunkin' Donuts in September 2011.
In February 2014, The Coca-Cola Company purchased a 10% stake in the company, valued at $1.25 billion, with an option to increase their stake to 16%, which was exercised in May 2014. The partnership is part of Coca-Cola's support of a new cold beverage system being developed by Keurig that will allow customers to make Coca-Cola brand beverages at home. In early March 2014, Green Mountain Coffee shareholders voted to change its name to Keurig Green Mountain to reflect its business of selling Keurig coffee makers.
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