MEDIA ADVISORY - Keurig Green Mountain, Inc. MINI Plus Brewer Statement
Public Company Information:
WATERBURY, Vt.--(BUSINESS WIRE)--After receiving reports of hot liquid escaping from MINI Plus Brewing System units during use, Keurig Green Mountain, Inc. (Keurig) contacted the U.S. Consumer Product Safety Commission (CPSC) and Health Canada to begin the process for a voluntary recall. The Company has received approximately 200 incident reports related to the approximately 7.2 million MINI Plus units in the U.S. and Canada, which equates to an incidence rate of approximately 0.003%.
In cooperation with the CPSC and Health Canada, Keurig is voluntarily recalling certain MINI Plus Brewer (K10) Systems (formerly identified as B31). Affected units were produced prior to July 2014. This issue does not affect any other brewer models.
To determine if a specific brewer is among those units potentially affected based on its serial number, MINI Plus brewer owners should visit www.miniplusbrewer.com any time or call toll-free at (844) 255-7886 Monday through Friday from 8:00 a.m. to 8:00 p.m. (Eastern Time) and Saturday and Sunday from 8:00 a.m. to 3:00 p.m. (Eastern Time) or email firstname.lastname@example.org. Please note, the call center will be closed December 25, 2014 and January 1, 2015 but www.miniplusbrewer.com will remain accessible during this time.
Owners of affected MINI Plus Brewers can register to obtain a free repair kit which will resolve the potential issue.
Users can continue to use their MINI Plus brewers while waiting for their free repair kit. Out of an abundance of caution, we recommend that users avoid brewing more than two cups in rapid succession, and maintain an arm’s length distance from the brewer during the brewing process.
We are working closely with our retail customers to recall all affected product and we are in the process of fulfilling MINI Plus Brewer orders from consumers and retail customers with new product that is not affected by the recall.
The satisfaction and safety of our consumers is our highest priority and Keurig is committed to resolving this issue as quickly as possible.
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.
Keurig routinely posts information that may be of importance to investors in the Investor Relations section of its website, www.KeurigGreenMountain.com, 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 Keurig as it is released.
Keurig Green Mountain Forward-Looking Statements
Certain information in this media advisory 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.