Friday 8 February 2013

Green Mountain Coffee Roasters

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Green Mountain Coffee Roasters
Type Public
Traded as NASDAQ: GMCR
Industry Processed & Packaged Goods
Founded Waitsfield, Vermont, U.S. (1981)[1]
Founder(s) Robert P. Stiller[2]
Headquarters Waterbury, Vermont, U.S.
Key people Lawrence Blanford, President and CEO[2]
Revenue $3.62 billion[2]
Employees 5,600[2]
Website greenmountaincoffee.com
Green Mountain Coffee Roasters is a publicly traded brand of coffee based at Waterbury in the U.S. state of Vermont. The brand specializes in organic, fair trade, and specialty gourmet coffees. Keurig is a wholly owned subsidiary of Green Mountain Coffee Roasters, Inc., and sells many of their coffee varieties as K-Cups. In June 2009, Green Mountain Coffee Roasters had annual revenue exceeding $715 million.[3]
Green Mountain Coffee Roasters was ranked #1 in "The Best Corporate Citizens" in 2006 and 2007.[4][5]

Contents

Overview

Green Mountain Coffee Roasters is a specialty coffee company based in Waterbury, Vermont. The company roasts 100% Arabica coffees[citation needed] and offers over 100 different coffee selections, including certified organic, Fair Trade Certified, estate, signature blends and flavored coffees that sell under the company's and Newman’s Own Organics brands.
Green Mountain Coffee Roasters went public in September 1993 and is listed on the NASDAQ Global Select Market under the stock symbol GMCR.[6]
In 2006, the company acquired Keurig, Incorporated, a manufacturer of single-cup brewing systems.[7] Keurig sells its single-cup brewers in domestic wholesale and retail markets and directly to end consumers. On September 14, 2010, Green Mountain Coffee bought Quebec-based coffee services company Van Houtte for $915 million.[8] Green Mountain Coffee Roasters then sold the "Filterfresh" US coffee service portion of Van Houtte's business to Aramark on August, 29th 2011 for $145 million.[9]
On September 28, 2010, the company's stock rose to an all-time high, but the company disclosed after the markets closed that the Securities and Exchange Commission has requested documents and data from Green Mountain Coffee Roasters related to an inquiry into how it accounts for revenue.[10] The company announced that U.S. regulators had inquired into some of Green Mountain's accounting practices, including revenue recognition, and the large inventory with a single vendor, M. Block. Most analysts believe that the company practices are sound.[11]
On March 10, 2011, Green Mountain Coffee and Starbucks announced a deal whereby Starbucks would sell its coffee in single-serve pods for brewing with Green Mountain's Keurig machines. Starbucks would sell Keurig machines in their stores as part of the deal.[12] Green Mountain announced a similar agreement with Dunkin' Donuts in September 2011.[13]

History

Green Mountain Coffee Roasters began in 1981 as a small café in Waitsfield Vermont, roasting and serving coffee. Demand for the coffee grew, with local restaurants and inns asking to be supplied as well. While the original café is no longer owned by Green Mountain Coffee, the company now maintains its headquarters in Waterbury, Vermont where it has a 90,000-square-foot (8,400 m2) roasting and distribution facility. The company’s operations are supplemented by regional distribution centers in Maine, Upstate New York, Massachusetts and Connecticut.
In October 2006, Green Mountain Coffee Roasters opened a Visitors' Center and Café within the restored Waterbury Train Station.

Environmental initiatives

In October 2002, Green Mountain signed an agreement to sell fair trade coffee under the Newman's Own Organics label.[14]
Green Mountain Coffee Roasters has contributed at least five percent of its pre-tax profit annually to support initiatives that it considers socially responsible. Green Mountain Coffee Roasters has been ranked No. 1 on the list of "100 Best Corporate Citizens," now published by CRO magazine, in 2006 and 2007.[4][5]
In July 2006, Green Mountain Coffee Roasters launched an all-natural paper hot beverage cup. Produced in partnership with NatureWorks and International Paper, the cup is lined with a bio-plastic made from sugar – a 100% natural and renewable resource. In May 2007, Green Mountain Coffee Roasters and International Paper were recognized with a 2007 Sustainability Award from the Specialty Coffee Association of America for their partnership that resulted in the eco-tainer cup.[15]

Marketing

The majority of Green Mountain Coffee's revenue is derived from over 8,000 wholesale customer accounts. The wholesale operation serves supermarket, specialty food store, convenience store, food service, hotel, restaurant, university, travel and office coffee service customers.
In 2004, the company initiated an agreement with Bruegger's to source, roast, and package coffee for all of the chain's bakery-cafes. With an emphasis on fair trade coffee, custom blends are created for Bruegger's each season, with the basic blends being available all year round.[16]
In 2005, the company began selling Newman’s Own Organic Blend in more than 600 McDonald's restaurants in the Northeastern United States. In 2007, the company had extended its agreement with McDonald's USA to source, roast and package Newman's Own Organics Blend coffee exclusively for more than 600 McDonald's restaurants in Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire, Maine and Albany, NY. McDonald’s introduced Newman's Own Organics Coffee roasted by Green Mountain to its restaurants in New England and Albany, New York in 2005.[17]
Green Mountain Coffee Roasters also operates a direct mail and e-commerce business.[18]
In 2007, the company sold 27,000,000 pounds (12,000,000 kg) of coffee through various retailers, up 10% over 2006.[19]

See also

References

  1. ^ "Green Mountain Coffee Roasters - Fast Facts". Green Mountain Coffee Roasters. Retrieved 2009-10-23.
  2. ^ a b c d "GMCR Profile". Yahoo finance. Retrieved 5 August 2012.
  3. ^ http://finance.yahoo.com/q/ks?s=GMCR
  4. ^ a b CRO Magazine - 100 Best Corporate Citizens 2006
  5. ^ a b CRO Magazine - 100 Best Corporate Citizens 2007
  6. ^ Tea & Coffee Trade Online
  7. ^ "Green Mountain Coffee's purchase of Keurig Inc. completed". Boston Business Journal. June 16, 2006. Retrieved 21 May 2012.
  8. ^ Mountain Coffee buys Van Houtte for $915M
  9. ^ http://www.businesswire.com/news/home/20111003006862/en/Green-Mountain-Coffee-Roasters-Completes-Sale-Filterfresh
  10. ^ "SEC probes Green Mountain's revenue accounting". September 28, 2010. Retrieved 2010-10-26.
  11. ^ "UPDATE 1-Green Mountain roasted on SEC probe; analysts unfazed". Reuters. September 29, 2010.
  12. ^ Allison, Melissa (March 10, 2010). "Starbucks, Green Mountain ink deal, but it's not an acquisition". The Seattle Times. Retrieved 2010-03-10.
  13. ^ "Green Mountain Coffee Roasters, Inc. and Dunkin’ Donuts to Make America’s Favorite Coffee Available in K-Cup Portion Packs for Keurig Single-Cup Brewers" (PDF). Keurig. Retrieved 2012-04-28.
  14. ^ Bendheim, Kim (November 3, 2002). "Business; Global Issues Flow Into America's Coffee". New York Times. Retrieved 2009-06-17.
  15. ^ SCAA 2007 Sustainability Awards
  16. ^ Business wire announcement of Bruegger's deal
  17. ^ Organic consumers association
  18. ^ Green mountain coffee website
  19. ^ Marquardt, Katy (November 17–24, 2008). Brewing Profits, a Cup at a Time. US News and World Report.

External links

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