WATERBURY, Vt. & MINNEAPOLIS--(BUSINESS WIRE)-- Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR) and Caribou Coffee announced that the companies have renewed their partnership with a 10-year agreement for the manufacturing, marketing, distribution, and sale of Caribou Coffee in Keurig® pack formats for Keurig® consumer and commercial hot brewing systems. As a part of the agreement, the companies will begin offering Caribou Coffee in carafe formats for the Keurig® 2.0 brewing system and Keurig® Bolt® carafe brewing system.
"Today's announcement recognizes the tremendous success of the strategic partnership between Keurig and Caribou Coffee," said John Whoriskey, president, U.S. sales and marketing at Keurig. "Caribou Coffee has been an important part of the Keurig family of brands, and we're excited to continue our relationship and bring Keurig users the Caribou Coffee they love in carafe formats at home or in the office."
Caribou Coffee and Keurig first entered into a partnership in January 2007. With this announcement, the companies have extended and broadened their partnership in the United States and Canada to offer Caribou Coffee in carafe formats compatible with Keurig's new Keurig® 2.0 brewing system for the home and Keurig® Bolt® carafe brewing system for commercial settings. With the next generation Keurig® 2.0 home brewing system, consumers are able to brew both a single cup and a carafe of coffee from a Keurig® brand pack. Caribou Coffee K-Carafe™ packs are expected to be available for Keurig® 2.0 brewers beginning in the spring of 2015. The Keurig® Bolt® brewing system offers away from home users in offices and foodservice locations the ability to brew a high quality, fresh 64-ounce pot of coffee in approximately two minutes from a single pack.
"The expansion of our partnership will provide our guests with more convenience as they'll be able to enjoy their Rainforest Alliance Certified™ cup of Caribou Coffee through Keurig K-Carafe and Bolt packs," said Matt Spanjers, vice president of business development and strategic partnerships at Caribou Coffee. "To date we've sold more than one billion K-Cup packs and we're thrilled to continue to develop our successful partnership with Keurig."
Keurig® hot system brewers use innovative brewing technology to deliver a fresh-brewed, perfect single cup or carafe of hot or brewed over ice coffee, tea, cocoa, or fruit brews every time at just the touch of a button. With Keurig® 2.0 brewing systems, consumers continue to get the same Keurig quality, simplicity, and beverage choice they expect with 60 brands and nearly 400 beverage varieties currently available, all brewed with Keurig's new beverage-optimizing brewing technology.
About Caribou Coffee
Founded in 1992, Caribou Coffee is the second largest company-operated premium coffeehouse in the United States with more than 268* company owned stores and 126* domestic license locations in 18* states and 188* international franchise stores in 10* countries. Caribou Coffee provides high-quality, handcrafted beverages and food options to fuel life's adventures, both big and small. Known for a commitment to sustainability, the Company was the first major U.S. coffeehouse to serve 100% Rainforest Alliance Certified™ coffees and espresso. Caribou Coffee products can also be found in grocery stores, mass retailers, club stores, foodservice providers, hotels, entertainment venues and online. For more information, visit www.cariboucoffee.com.
*Store counts are accurate as of October 20, 2014. For updated numbers contact [email protected]
About Keurig Green Mountain, Inc.
As a leader in specialty coffee, coffee makers, teas and other beverages, Keurig Green Mountain (Keurig) (NASDAQ: GMCR), is recognized for its award-winning beverages, innovative brewing technology, and socially responsible business practices. The Company has inspired consumer passion for its products by revolutionizing beverage preparation at home and in the workplace. Keurig supports local and global communities by investing in sustainably-grown coffee and by its active involvement in a variety of social and environmental projects. By helping consumers drink for themselves, we believe we can brew a better world. For more information visit: www.KeurigGreenMountain.com. To purchase Keurig® products visit: www.Keurig.com or www.Keurig.ca.
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Keurig Green Mountain Forward-Looking Statements
Certain information in this press release constitutes "forward-looking statements." Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "seeks" or words of similar meaning, or future or conditional verbs, such as "will," "should," "could," "may," "aims," "intends," or "projects." However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. 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 success of introducing and producing new product offerings, 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, projections of payment of dividends, the impact of pending shareholder litigation, and the impact of antitrust litigation pending against the Company in the United States and Canada. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our Company's historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part I, "Item 1A. Risk Factors" and Part II, "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended September 27, 2014, and elsewhere in that report and those described from time to time in our future reports filed with the Securities and Exchange Commission.