Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) and ConAgra
Foods, Inc. (NYSE: CAG) announce the companies have reached an
agreement to make Swiss Miss® Hot Cocoa available in K-Cup® portion
packs for the Keurig® Single-Cup Brewing System. Financial terms of
the agreement were not disclosed.
The new Swiss Miss K-Cup portion pack will hold the perfect
amount of Swiss Miss Hot Cocoa to create a delicious, sweet and
classic beverage that will appeal to the entire family. Swiss Miss
Hot Cocoa will be offered in a variety of at home channels for
Keurig consumers beginning in August 2011. The new K-Cup portion
pack will be offered alongside Café Escapes®, a line of dairy-based
beverages in K-Cup portion packs geared to adult consumers looking
to treat themselves with a delicious, indulgent reward.
“We are excited to welcome Swiss Miss into the GMCR family and
to offer Keurig users the leading hot cocoa brand in K-Cup portion
packs,” says Lawrence J. Blanford, GMCR President and CEO. “With
Swiss Miss, we are adding another valued partner that expands
consumer choice within the Keurig Brewing System. The new Swiss
Miss Hot Cocoa K-Cup portion pack will deliver to consumers a
beloved beverage with the exceptional quality and taste they expect
from the Keurig System.”
First introduced in grocery stores in 1959, Swiss Miss has a
rich history as the “original” hot cocoa. Swiss Miss currently is
the leader in category dollar share at grocery, with the No. 1 and
No. 2 highest selling cocoa in each hot cocoa segment, according to
IRI data for the latest 52 weeks ending April 10, 2011. Swiss Miss
Hot Cocoa is made in a real dairy where fresh milk from local farms
is delivered daily, dried, and blended with premium, imported
cocoa. This quality and care will be captured and delivered in the
new Swiss Miss K-Cup portion packs.
“The Keurig Brewing System will be a brand new way consumers can
easily make and enjoy a mug of Swiss Miss Hot Cocoa,” said David
Palfenier, Consumer Foods President at ConAgra Foods. “Swiss Miss
is proud to have the most loyal consumers of all hot cocoa brands,
and we know they will be excited to experience our hot cocoa in
this new format.”
GMCR’s Keurig Single-Cup brewers for in-home and office use
utilize patented, innovative brewing and single-cup technology to
deliver a fresh-brewed, perfect cup of coffee, tea, or cocoa every
time at just the touch of a button. Brewers with Keurig Brewed®
technology were the top five selling coffeemakers in the U.S. on a
dollar basis for the period of October through December 2010 and
represented an estimated 49% of total coffeemaker dollar sales for
that period according to The NPD Group / CREST®.
About ConAgra Foods, Inc.
ConAgra Foods, Inc., (NYSE: CAG) is one of North America's
leading food companies, with brands in 97 percent of America's
households. Consumers find Banquet, Chef Boyardee, Egg Beaters,
Healthy Choice, Hebrew National, Hunt's, Marie Callender's, Orville
Redenbacher's, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack and
many other ConAgra Foods brands in grocery, convenience, mass
merchandise and club stores. ConAgra Foods also has a strong
business-to-business presence, supplying frozen potato and sweet
potato products as well as other vegetable, spice and grain
products to a variety of well-known restaurants, foodservice
operators and commercial customers. For more information, please
visit us at www.conagrafoods.com.
About Green Mountain Coffee Roasters, Inc.
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’s operations are
managed through three business units. The Keurig business unit is
comprised of Keurig, Incorporated, a wholly owned subsidiary of
GMCR. Keurig is a pioneer and leading manufacturer of gourmet
single-cup brewing systems for both at-home and away-from home use,
predominantly in North America. The Specialty Coffee business unit
produces, markets and sells coffee, tea, hot cocoa and other
beverages in a variety of packaging formats, including K-Cup®
portion packs for Keurig Single-Cup Brewers. The Canadian business
unit produces, markets and sells coffees in K-Cup portion packs and
other packaging formats and is responsible for managing the Van
Houtte business as well as the grocery channel for all GMCR coffee
brand sales in Canada. GMCR supports local and global communities
by offsetting 100% of its direct greenhouse gas emissions,
investing in sustainably-grown coffee, and allocating at least five
percent of its pre-tax profits to socially and environmentally
responsible initiatives.
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. For more information, please visit
www.GMCR.com.
GMCR Forward-Looking Statements
Certain statements contained herein are not based on historical
fact and are “forward-looking statements” within the meaning of the
applicable securities laws and regulations. Generally, these
statements can be identified by the use of words such as
“anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,”
“forecast,” “intend,” “may,” “plan,” “potential,” “project,”
“should,” “would,” and similar expressions intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Owing to the
uncertainties inherent in forward-looking statements, actual
results could differ materially from those stated here. Factors
that could cause actual results to differ materially from those in
the forward-looking statements include, but are not limited to, the
impact on sales and profitability of consumer sentiment in this
difficult economic environment, the Company’s success in
efficiently expanding operations and capacity to meet growth, the
Company’s success in efficiently and effectively integrating the
Company’s acquisitions, the Company’s success in introducing and
producing new product offerings, the ability of lenders to honor
their commitments under the Company’s credit facility, competition
and other business conditions in the coffee industry and food
industry in general, fluctuations in availability and cost of
high-quality green coffee, any other increases in costs including
fuel, Keurig’s ability to continue to grow and build profits with
its roaster partners in the At Home and Away from Home businesses,
the Company experiencing product liability, product recall and
higher than anticipated rates of warranty expense or sales returns
associated with a product quality or safety issue, the impact of
the loss of major customers for the Company or reduction in the
volume of purchases by major customers, delays in the timing of
adding new locations with existing customers, the Company’s level
of success in continuing to attract new customers, sales mix
variances, weather and special or unusual events, the impact of the
inquiry initiated by the SEC and any related litigation or
additional governmental investigative or enforcement proceedings,
as well as other risks described more fully in the Company’s
filings with the SEC. Forward-looking statements reflect
management’s analysis as of the date of this release. The Company
does not undertake to revise these statements to reflect subsequent
developments, other than in its regular, quarterly earnings
releases.
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