Agreement provides for greater consumer choice in the fast-growing and ultra-convenient Keurig ® Single-Cup Brewing system
Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR) and The J.M.
Smucker Company (Smucker) (NYSE: SJM) today announced a multiyear
manufacturing and distribution agreement under which GMCR will
manufacture certain coffee brands owned by Smucker, including Folgers® Gourmet
SelectionsTM and Millstone® in
single-serve K-Cup® portion packs for Keurig® Single-Cup
Brewers. Smucker is a leader in the U.S. retail coffee market with its
brands Folgers, Folgers Gourmet Selections, and Millstone. Smucker also
manufactures and markets the Dunkin Donuts® coffee brand
through retail channels in North America.
Under terms of the agreement, Smucker will have the ability to market
and sell a variety of Folgers Gourmet Selections and Millstone K-Cups to
consumers in the U.S. and Canada through grocery stores, mass
merchandisers, drugstores, and wholesale clubs, as well as through
Smucker retail websites. GMCR’s Keurig business unit will have the
ability to market and sell Smucker coffee brands of K-Cups direct to
consumers via its website: www.keurig.com.
Green Mountain Coffee Roasters, Inc. will be the exclusive manufacturer
of Smucker coffee brands of K-Cups using roasted and blended coffee
beans provided by Smucker. A select offering of Smucker coffee brands of
K-Cups are expected to be available to consumers beginning in the fall
of 2010.
“Adding the power of well-known Folger’s Gourmet Selections and
Millstone coffee brands to the broad and growing assortment of K-Cup
portion pack varieties available to consumers expands the appeal of the
Keurig Single-Cup Brewing system, and will allow us to reach more
consumers in more geographies,” said Lawrence J. Blanford, president and
CEO, Green Mountain Coffee Roasters, Inc. “We look forward to Smucker’s
participation in aiding Keurig Single-Cup system adoption through
grocery channels.”
“We are excited about the opportunity for our coffee brands to reach
consumers through the fastest growing single–serve coffee brewing
system,” said Vincent C. Byrd, President U.S. Retail Coffee, The J.M.
Smucker Company “With this agreement, consumers of our coffee brands
will benefit from the quality coffee experience and convenience provided
by Keurig’s Single-Cup Brewing technology.”
Additional terms and conditions of the agreement were not disclosed.
About Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR)
As a leader in the specialty coffee industry, Green Mountain Coffee
Roasters, Inc. is recognized for its award-winning coffees, innovative
brewing technology, and socially responsible business practices. GMCR’s
operations are managed through two business units. The Specialty Coffee
business unit produces coffee, tea and hot cocoa from its family of
brands, including Green
Mountain Coffee®, Newman’s
Own® Organics coffee Tully’s
Coffee®, and Timothy’s
World Coffee®. The Keurig business unit is a pioneer and leading
manufacturer of gourmet single-cup brewing systems. K-Cup®
portion packs for Keurig® Single-Cup Brewers are produced by a
variety of licensed roasters, including Green Mountain Coffee, Tully’s
Coffee and Timothy’s. GMCR supports local and global communities by
offsetting 100% of its direct greenhouse gas emissions, investing in
Fair Trade Certified™ coffee, and donating at least five percent of its
pre-tax profits to social and environmental projects. Visit www.gmcr.com for
more information.
GMCR routinely posts information that may be of importance to investors
in the Investor Relations section of its web site, including news
releases and its complete financial statements, as filed with the SEC.
GMCR encourages investors to consult this section of its web site
regularly for important information and news. Additionally, by
subscribing to GMCR’s automatic email news release delivery, individuals
can receive news directly from GMCR as it is released.
About The J. M. Smucker Company
For more than 110 years, The J.M. Smucker Company has been committed to
offering consumers quality products that help families create memorable
mealtime moments. Today, Smucker is the leading marketer and
manufacturer of fruit spreads, retail packaged coffee, peanut butter,
shortening and oils, ice cream toppings, sweetened condensed milk, and
health and natural foods beverages in North America. Its family of
brands includes Smucker's®, Folgers®, Dunkin’ Donuts®, Jif®, Crisco®,
Pillsbury®, Eagle Brand®, R.W. Knudsen Family®, Hungry Jack®, White
Lily® and Martha White® in the United States, along with Robin Hood®,
Five Roses®, Carnation®, Europe’s Best® and Bick's® in Canada. The
Company remains rooted in the Basic Beliefs of Quality, People, Ethics,
Growth and Independence established by its founder and namesake more
than a century ago. The Company has appeared on FORTUNE Magazine's list
of the 100 Best Companies to Work For in the United States 12 times,
ranking number one in 2004. For more information about the Company,
visit www.smuckers.com.
The J. M. Smucker Company is the owner of all trademarks, except Pillsbury is
a trademark of The Pillsbury Company, LLC used under license; Carnation is
a trademark of Société des Produits Nestlé S.A., used under license; and Dunkin’
Donuts is a registered trademark of DD IP Holder LLC used under
license.
