Keurig Green Mountain

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Keurig Green Mountain
Formerly called
Green Mountain Coffee Roasters (1981–2014)
Public corporation
Traded as NASDAQGMCR
S&P 500 Component
Industry Processed & Packaged Goods
Founded Waitsfield, Vermont, U.S. (1981 (1981))[1]
Founder Robert P. Stiller[2]
Headquarters Waterbury, Vermont, U.S.
Key people
Brian Kelley, President and CEO[2]
Products coffee
coffee makers
Revenue
  • Increase US$ 4,358.1 million (2013) [3]
  • Increase US$ 3,859.198 million (2012) [3]
  • Increase US$ 765.227 million (2013) [3]
  • Increase US$ 568.896 million (2012) [3]
  • Increase US$ 483.232 million (2013) [3]
  • Increase US$ 362.628 million (2012) [3]
Total assets
  • Increase US$ 3,761.548 million (2013) [4]
  • Increase US$ 3,615.789 million (2012) [3]
Total equity
  • Increase US$ 2,635.57 million (2013) [4]
  • Increase US$ 2,261.228 million (2012) [3]
Owners The Coca-Cola Company (16%, 2014)
Number of employees
6,600 (2015)[2]
Website KeurigGreenMountain.com

Keurig Green Mountain, formerly Green Mountain Coffee Roasters, is a publicly traded brand of coffee headquartered in Waterbury, Vermont, USA. 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.

History[edit]

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.[5]

In October 2002, Green Mountain signed an agreement to sell fair trade coffee under the Newman's Own Organics label.[6]

In 2006, the company acquired Keurig, Incorporated, a manufacturer of single-cup brewing systems.[7] The company was ranked #1 in "The Best Corporate Citizens" in 2006 and 2007.[8][9]

On November 13, 2009, Green Mountain announced the acquisition of the wholesale division of Canadian coffee provider Timothy' World Coffees for $157 million US.[10]

On September 14, 2010, Green Mountain Coffee bought a second Canadian distributor, Quebec-based coffee services company Van Houtte, for $915 million.[11] 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.[12] 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.[13] 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.[14]

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.[15] Green Mountain announced a similar agreement with Dunkin' Donuts in September 2011.[16]

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.[17] 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.[17] In January 2015, the company made a similar deal with Dr Pepper Snapple Group.[18] The company's primary competitor in this market area is SodaStream.[18]

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.[19]

Corporate governance[edit]

As of January 2015, Brian Kelley was the company's chief executive officer.[18]

See also[edit]

References[edit]

  1. ^ "Green Mountain Coffee Roasters - Fast Facts". Green Mountain Coffee Roasters. Retrieved 2009-10-23. 
  2. ^ a b c "GMCR Profile". Yahoo finance. Retrieved 5 August 2012. 
  3. ^ a b c d e f g h "KEURIG GREEN MOUNTAIN, INC. 2013 Annual Report Form (10-K/A)" (XBRL). United States Securities and Exchange Commission. November 21, 2013. 
  4. ^ a b "KEURIG GREEN MOUNTAIN, INC. 2014 Q2 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. May 7, 2014. 
  5. ^ Pendergrast, Mark. "Green Mountain Coffee Roasters: Doing Well by Doing Good". Tea & Coffee Trade Journal (New York: Lockwood Publications) (April/May 2004). ISSN 2331-8546. Archived from the original on 30 May 2004. 
  6. ^ Bendheim, Kim (November 3, 2002). "Business; Global Issues Flow Into America's Coffee". New York Times. Retrieved 2009-06-17. 
  7. ^ "Green Mountain Coffee's purchase of Keurig Inc. completed". Boston Business Journal. June 16, 2006. Retrieved 21 May 2012. 
  8. ^ "CRO Magazine - 100 Best Corporate Citizens 2006". 
  9. ^ "CRO Magazine - 100 Best Corporate Citizens 2007". 
  10. ^ "Green Mountain Coffee Roasters, Inc. Acquires Timothy’s Coffees of the World, Inc.". gmcr.com. 
  11. ^ "Mountain Coffee buys Van Houtte for $915M". thestar.com. 
  12. ^ "Green Mountain Coffee Roasters Completes Sale of Filterfresh Business to ARAMARK - Business Wire". 
  13. ^ "SEC probes Green Mountain's revenue accounting". Business/Technology. The Seattle Times. Associated Press. September 28, 2010. Retrieved 7 January 2015. 
  14. ^ "UPDATE 1-Green Mountain roasted on SEC probe; analysts unfazed". Reuters. 29 September 2010. 
  15. ^ Allison, Melissa (March 10, 2010). "Starbucks, Green Mountain ink deal, but it's not an acquisition". The Seattle Times. Retrieved 2010-03-10. 
  16. ^ "Green Mountain Coffee Roasters, Inc. and Dunkin’ Donuts to Make America’s Favorite Coffee Available in K-Cup Portion Packs for Keurig Single-Cup Brewers" (PDF) (Press release). Keurig Green Moutain. 2011. Retrieved 28 April 2012. 
  17. ^ a b Leon Stafford (2014-05-13). "Coca-Cola ups stake in Keurig". myajc.com. Cox Newspapers. Retrieved 2014-06-19. 
  18. ^ a b c Gasparro, Annie; Esterl, Mike (7 January 2015). "Keurig Reels In Dr Pepper for Its Coming Soda Machine". Business. Wall Str. J. 
  19. ^ "New Green Mountain name shows Keurig connection". USA Today. AP. March 10, 2014. Retrieved March 12, 2014. 

External links[edit]