Press release from Business Wire
Green Mountain Coffee Roasters, Inc. Welcomes The Coffee Bean & Tea Leaf to the Keurig Family
<p class='bwalignc'> <i>Green Mountain Coffee Roasters, Inc. and International Coffee & Tea, LLC align to bring a new selection of premium beverages to Keurig owners</i> </p>
Wednesday, May 29, 2013
Green Mountain Coffee Roasters, Inc. Welcomes The Coffee Bean & Tea Leaf to the Keurig Family07:00 EDT Wednesday, May 29, 2013
WATERBURY, Vt. & LOS ANGELES (Business Wire) -- Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, and International Coffee & Tea, LLC announce the companies have reached a multiyear agreement to make The Coffee Bean & Tea Leaf ® brand available in K-Cup® packs for the Keurig® single cup brewing system. A select offering of The Coffee Bean & Tea Leaf K-Cup® packs are planned to be available in a variety of channels in the United States beginning in spring 2014. The new selections will join GMCR's family of beverage brands as a premium offering in the Keurig® brewing system.
“We're delighted to partner with The Coffee Bean & Tea Leaf ® , a company based on high-quality products and sustainable values,” said Brian P. Kelley, President and CEO of GMCR. “Our strategy to partner with world-class coffee and tea brands like The Coffee Bean & Tea Leaf ® furtherbroadens consumer choice in the Keurig® system and helps us provide a wide range of beverages for every taste.”
The Coffee Bean & Tea Leaf ® is the oldest and largest privately-held specialty coffee and tea retailer in the United States. Known for sourcing and providing a diverse selection of the highest quality coffees and teas since 1963, The Coffee Bean & Tea Leaf ® has built relationships with the best private coffee farms and tea estates around the world, selecting only the finest Arabica beans.
“As we celebrate our 50th Anniversary in 2013, including our heritage of sharing our passion with our loyal customers, we now also look ahead to a new milestone: This agreement that will expand our reach among both our current and prospective customers,” said Mel Elias, President and CEO of The Coffee Bean & Tea Leaf ® . “We look forward to working with GMCR to bring our products to even more homes with Keurig Brewed® quality and convenience.”
GMCR's Keurig® single cup brewers for in home and office use utilize innovative brewing and single-cup technology to deliver a fresh-brewed, perfect cup of hot or iced coffee, tea, cocoa, or fruit brews every time at just the touch of a button. According to the NPD Group, Keurig® single cup brewers were the top four bestselling coffee makers during GMCR's fiscal second quarter 2013 by dollar sales.
About The Coffee Bean & Tea Leaf ®
Born and brewed in Southern California since 1963, The Coffee Bean & Tea Leaf® is the oldest and largest privately-held specialty coffee and tea retailer in the United States. Known for sourcing and providing the finest ingredients and flavors, The Coffee Bean & Tea Leaf® has built relationships with the best private coffee farms and tea estates around the world, selecting only the top 1% Arabica beans and finest hand plucked, whole leaf teas. Also known for product innovations such as the Original Ice Blended® drink, the company has grown to be an international icon and currently has more than 900 stores in nearly 30 countries. Each one is dedicated to serving the local community and providing a warm and inviting environment. The Coffee Bean & Tea Leaf ® products are also available in grocery stores, restaurants and offices, as well as in conjunction with the CBTL® Single Serve Beverage System. For more information, visit www.coffeebean.com, www.cbtl.com, or www.facebook.com/coffeebean.
About Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR)
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR supports local and global communities by investing in sustainably-grown coffee and allocating a portion of its pre-tax profits to socially and environmentally responsible initiatives. For more information, please visit www.GMCR.com, www.greenmountaincoffee.com, or www.keurig.com.
GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, 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 GMCR as it is released.
Certain information contained in this filing, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are “forward-looking statements”. Generally, these statements may be identified by the use of words such as “may,” “will,” “would,” “expect,” “should,” “anticipate,” “estimate,” “believe,” “forecast,” “intend,” “plan” and similar expressions intended to identify forward-looking statements. 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 ability to maximize or successfully assert our intellectual property rights, the success of introducing and producing new product offerings, ability to attract and retain senior management, 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, organizational efficiencies, and the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings.
These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by external factors such as damage to our reputation or brand name, business interruptions due to natural disasters or similar unexpected events, actions of competitors, customer relationships and financial condition, the ability to achieve expected cost savings and margin improvements, the acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, successful execution of internal changes to the organizational and leadership structures, changes in regulatory requirements, and global economic conditions generally which would include the availability of financing, interest, inflation rates and investment return on retirement plan assets, as well as foreign currency fluctuations, risks associated with our information technology systems, the threat of data breaches or cyber-attacks, and other risks described in our filings with the SEC.
Actual results could differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Green Mountain Coffee Roasters, Inc.
Kristen Mercure, 802-882-2270
Sr. Public Relations Specialist
The Coffee Bean & Tea Leaf ®
Meghan Patke, 323-871-1151
Green Mountain Coffee Roasters, Inc.
Suzanne DuLong, 802-488-2600
VP of Investor Relations and Corporate Communications