Green Mountain Coffee Roasters, Inc. Expanding Addressable Opportunity with New Commercial Grade Keurig Carafe Brewing System
Breakthrough Keurig® BOLT™ Brewer Brings Keurig’s Speed, Quality and Convenience to Workplace and Foodservice Applications Where Higher Volume Brewing Is Required
Public Company Information:
WATERBURY, Vt.--(BUSINESS WIRE)--Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and single serve beverages with its innovative Keurig® brewing technology, today announced the launch of its latest breakthrough, the Keurig® BOLT™ Carafe Brewing System. The first of its kind, the commercial grade Keurig® BOLT™ system offers users the ability to brew a 64-ounce pot of coffee in approximately two minutes, bringing the innovation, speed, convenience and quality that Keurig® single cup brewing systems are known for to higher volume brewing.
“Keurig BOLT is a revolutionary step in our journey of bringing Keurig simplicity, quality and convenience to new away-from-home applications,” said Brian P. Kelley, President and CEO of GMCR. “While driving Keurig single serve adoption both in- and away-from-home remains a significant opportunity and priority, we recognize there are away-from-home consumption occasions where brewing in volume is preferred. By applying Keurig innovation to brewing a pot with Keurig BOLT, we will be able to capture those occasions and incrementally grow our business.”
Keurig® BOLT™ delivers a superior batch-brewing experience, addressing common shortcomings of today’s conventional batch-brew offerings by providing a quick and easy way to make a high-quality carafe of coffee. Keurig® BOLT™ offers convenience and consistent beverage quality, and provides a faster brew time than the leading 120V commercial brewers.
With 65 percent of office coffee still being brewed by the pot*, the primary target channel for the Keurig® BOLT™ system is medium to large offices that prefer to serve coffee in volume and are looking for a premium brewing experience. In addition, Keurig® BOLT™ is applicable to foodservice customers like limited service restaurants and convenience stores, as well as colleges and universities and hotel and hospitality facilities.
“Our away from home customers are demanding a simpler and faster way to brew a high-quality pot or batch of coffee,” said Michelle Stacy, President, U.S. Commercial at GMCR. “Extending the Keurig value proposition from cup to carafe with the addition of the Keurig BOLT system allows us to target that incremental need of away-from-home customers, giving us multiple ways to address opportunities in this high-priority growth channel for the Company. We also see opportunity for both Keurig BOLT and our single serve offerings in the same office, depending on the beverage needs in different areas and at varying dayparts, thereby increasing our single cup penetration.”
Following extensive laboratory testing and focus-group research, in-office testing of Keurig® BOLT™ with select customers in the U.S. begins this month. The Keurig® BOLT™ system, including Keurig® BOLT™ packs, will be available throughout the U.S. and Canada through limited Keurig Authorized Distributors beginning in late fall 2013.
Keurig® BOLT™ Brewer Features
- Brews a half-gallon (64 ounces) pot of coffee in approximately two minutes, compared with a brew time of over four minutes with the leading 120V commercial office coffee brewers
- Innovative Keurig® BOLT™ thermal carafe maintains the ideal combination of taste, freshness and temperature for up to two hours
- Plumbed system with fully programmable color touchscreen featuring auto on/off, temperature control between 187 and 197 degrees Fahrenheit and language selection (English/French/Spanish)
- UL-approved for commercial use and National Sanitation Foundation (NSF) certified for foodservice environments
Keurig® BOLT™ Pack Features
- Each Keurig® BOLT™ pack, which resembles a larger Keurig® Vue® pack or Keurig® K-Cup® pack, contains the right amount of coffee needed to brew a high-quality half-gallon pot of coffee
- Pre-measured packs are sealed to keep coffee fresh and alleviate the need for messy filters and clean-up
- Keurig® BOLT™ packs offered will include brands representing a mix of GMCR’s most popular offerings, including Green Mountain Coffee® ; The Original Donut Shop™ ; Timothy’s World Coffee®; Tully’s®; and Van Houtte® coffees.
- The Keurig® BOLT™ packs’ plastic cups are made from polypropylene/#5 plastic, and can be separated from the lid and filter and recycled wherever polypropylene/#5 plastics are accepted.** Keurig® BOLT™ system users should check with their local municipality or waste hauler or visit www.boltrecycling.com for more information on recycling options in U.S. communities.
- Keurig® BOLT™ Carafe Brewing System: www.keurig.com/bolt
- Keurig® BOLT™ Recycling: www.boltrecycling.com
- Supporting slides for investors can be found at http://investor.gmcr.com/events.cfm
* National Coffee Association USA "2013 National Coffee Drinking Trends"
** According to the Moore Recycling Associates, Plastic Recycling Collection: National Reach Study, May 2013, polypropylene/#5 plastics are recyclable by approximately 60% of the U.S. population. According to CM Consulting, Population Access to the Recycling of Post Consumer Plastic Packaging in Canada, May 2013, polypropylene/#5 plastics are recyclable by approximately 93% of the Canadian population.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative Keurig® single cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by investing in sustainably-grown coffee, and donating a portion of its pre-tax profits to social and environmental projects. 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, 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 successful acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, 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 Securities and Exchange Commission.
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.
GMCR – C
Green Mountain Coffee Roasters, Inc.
U.S. Media Contact:
Lynda McKinney, 781-205-7327
Director of Public Relations
Canada Media Contact:
GMCR Canada Holding Inc.
Thierry Gamelin, 514-789-4886
Media and Public Relations Manager
Katie Gilroy, 781-205-7345
Corporate Communications Manager