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® further broadens 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.
Forward-Looking Statements
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.
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