Keurig Green Mountain

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Keurig Green Mountain

logo
legal form Corporation
founding 1981
Seat Waterbury , United StatesUnited StatesUnited States 
management Bob Gamgort ( CEO )
Number of employees 6,000
sales 4,520,000,000 US dollars
Branch Coffee machines and capsules
Website www.keuriggreenmountain.com
As of September 26, 2015

Keurig Green Mountain is a manufacturer of specialty coffees and coffee machines . The company was founded in 1981 and is based in the United States. It sources, produces and sells coffee, drinking chocolate, tea and other beverages under various brand names in portion packs for its Keurig brewing systems; it also sells coffee beans and ground coffee in various package sizes. It sells many of its beverages as single-use coffee pods (K-Cup).

Through its own and its licensed brands, the company offers over 400 different types of coffee and other types of beverages.

Started in 1981 as a small Vermont specialty coffee roaster and seller, Green Mountain Coffee Roasters (GMCR) completed the acquisition of coffee brewer manufacturer Keurig, Inc. in 2006, after expanding regionally and nationally in the late 1980s and going public in 1993, which grew rapidly through the high-margin sales of its many varieties of disposable K-Cup coffee pods for home and office use. In March 2014, GMCR changed its name to Keurig Green Mountain.

The company is based in Waterbury , Vermont . Its Canadian business unit operates as Keurig Canada Inc.

The company was publicly traded from 1993 to 2015 until December 2015, when it announced that a group of investors led by JAB Holding would acquire Keurig Green Mountain for $ 13.9 billion. The acquisition was completed in March 2016. Keurig Green Mountain is now privately owned but remains a separate business unit run by its existing management team.

history

Beginnings

Green Mountain Coffee Roasters began when entrepreneur Bob Stiller discovered such a good cup of coffee at a Vermont ski resort that he traced its origin. In 1981, he and a partner bought two-thirds of the shares in the small specialty coffee roaster in Waitsfield , Vermont that produced the roasted beans. The store and cafe sold beans, powder, and coffee to the public and some restaurants. At a time when premium, special and gourmet coffees were still rare, Stiller devoted himself to coffee roasting, using only Arabica coffee beans. In 1982 the company had around 30 employees and relocated production to Waterbury, Vermont .

Stiller paid off his two partners for $ 100,000 and became sole owner of the company within two years of its original purchase, but it took four years to turn a profit. To increase business, Stiller sold the coffee to both fine restaurants and petrol stations, and since he couldn't afford advertising, he gave out free samples. In 1986 he started a mail order business, which he advertised in gourmet magazines, and acquired his first supermarket chain customer, Kings Food Markets.

Stiller incorporated technology early on - to track customer orders, to regulate roasting heat levels appropriately for each pack, and to track distribution, manufacture, sales and employees (by PeopleSoft since 1997). The company also early on embraced an ethos of environmental protection and social responsibility ; from 1983 employees were composting store coffee grounds , and from 1986 Green Mountain introduced its first organic coffee in a retail test. Environmental protection, sustainability, corporate social responsibility and fair trade soon became the overarching principles for which Green Mountain became known. It is one of the largest suppliers of double-certified fair trade and organic coffee in the world.

expansion

As America's coffee tastes changed, Green Mountain's roast coffee sales grew. In 1991, GMCR had seven stores, 1,000 wholesale customers, $ 11 million in sales and $ 200,000 in profit. By 1993, the company had 2,400 wholesale customers and sales of approximately $ 10 million, and Green Mountain Coffee Roasters, Inc. was listed under the ticker "GMCR". The company expanded its store locations, catering sales, mail order and wholesale.

In 1994 Green Mountain began exporting to Canada and Taiwan . In the late 1990s, it expanded its sales to national supermarkets and gas stations across the northeastern United States, selling its products to airlines and Amtrak , specialty coffee shops , and other locations.

Keurig and the introduction of K-Cups with Green Mountain Coffee

In 1993, three tech entrepreneurs from a Massachusetts start-up named Keurig approached GMCR to develop a disposable coffee brewing system, Green Mountain's first investment in the emerging company. The brand name Keurig was found by looking up the Dutch word for English excellence in a dictionary , as the Netherlands was thought to have a positive image ( Dutch keurig means excellent ). In 1996, GMCR made further investments in Keurig, purchasing a 35% stake in the company. In 1997 Green Mountain Coffee Roasters became the first roaster to offer coffee in K-Cup pods for the Keurig single-cup brewing system, and in 1998 Keurig delivered its first brewing system for office use. The introduction of the first K-Cups with Green Mountain Coffee helped GMCR keep competing with the ubiquitous Starbucks presence by giving people the ability to brew their own cup of premium coffee .

Also in 1997, a deal with bottled water manufacturer Poland Spring opened the office worker market when they distributed Green Mountain Coffee to thousands of offices in the northeastern United States. In 1998, GMCR closed its 12 stores in favor of the growing mail order and online market, its growing distribution to business offices and other national locations, and its wholesale market. That year, it signed an exclusive deal with resort operator American Skiing Company, offered its first corporate gift catalog, sold its certified organic coffee in oil company ExxonMobil's national and international stores, and expanded its supermarket sales to 500 stores. In 1999 it expanded its export market to Great Britain.

In 2000, Green Mountain reached an agreement to promote and sell Fair Trade coffee and committed to certifying at least 3% of its sales through TransFair USA Fair Trade . In 2001 the company acquired natural and organic wholesalers Frontier Organic Coffee, and in 2002 it signed an agreement to sell fair trade coffee under the Newman's Own Organics label. In late 2005, GMCR reached a deal to sell its Newman's Own Organics Blend coffees in over 600 McDonald’s restaurants in New England and Upstate New York .

Individual evidence

  1. ^ Keurig Green Mountain Names Robert J. Gamgort Chief Executive Officer , March 23, 2016
  2. a b Form 10-K 2015  ( page no longer available , search in web archivesInfo: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Dead Link / investor.keuriggreenmountain.com  
  3. ^ Matt Egan: Keurig Green Mountain bought for $ 13.9 billion by firm that owns Peet's Coffee. In: CNN . December 7, 2015, accessed December 11, 2017 .
  4. ^ Keurig Green Mountain to be Acquired by JAB Holding Company-Led Investor Group for $ 92 Per Share in Cash , Business Wire . December 7, 2015. 
  5. ^ JAB completes acquisition of Keurig Green Mountain , Vermont Business Magazine . March 3, 2016. 
  6. ^ JAB Holding Company-Led Investor Group Completes Acquisition of Keurig Green Mountain, Inc. , Business Wire . March 3, 2016. 
  7. Udland, Myles: Keurig is getting bought for $ 92 a share, stock jumps 75% , Business Insider . December 7, 2015. 
  8. Kaplan, Jennifer: Keurig to Go Private in $ 13.9 Billion Buyout Led by JAB , Bloomberg Business . December 7, 2015. 
  9. a b c d e f Kroll, Luisa: Entrepreneur Of The Year: Java Man , Forbes . October 29, 2001. 
  10. a b c d e f g h i j k Ingram, Frederick C. "Green Mountain Coffee, Inc." In: Grant, Tina (ed.). International Directory of Company Histories , Vol. 31. St. James Press, 2000. pp. 227-230.
  11. ^ A b "Chapter 4: Building a Better Cup of Coffee" . In: Carpenter, Murray. Caffeinated: How Our Daily Habit Helps, Hurts, and Hooks Us . Penguin, 2014. pp. 47-56.
  12. a b c d e f Green Mountain Coffee - History , BrewaBetterDay.com . Archived from the original on April 27, 2015 Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . Retrieved April 21, 2015. @1@ 2Template: Webachiv / IABot / www.brewabetterday.com 
  13. ^ Marquardt, Katy: Go for the GREEN . Kiplinger's Personal Finance . January 2006. p. 65.
  14. ^ Luna, Taryn: Green Mountain booming with Coca-Cola partnership for new cold drink system , Boston Globe . February 7, 2014. 
  15. ^ How Bad Are K-Cups for the Environment? - The Atlantic. In: theatlantic.com. Retrieved March 22, 2018 .
  16. Free woordenboek - Van Dale. In: vandale.nl. Retrieved March 22, 2018 .
  17. ^ Green Mountain Coffee's purchase of Keurig Inc. completed . Boston Business Journal . June 16, 2006.
  18. Keurig Canada - Our History . Corp.Keurig.ca . March 16, 2015.
  19. ^ Green Mountain and TransFair to Market Fair Trade Coffee . The gourmet retailer . August 1, 2000.
  20. ^ Green Mountain Coffee Roasters Acquires Frontier Organic Coffee Business . Frontier Natural Products Co-op . June 5, 2001. Archived from the original on September 24, 2015. Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved April 21, 2015. @1@ 2Template: Webachiv / IABot / www.frontiercoop.com
  21. Bendheim, Kim: Business; Global Issues Flow Into America's Coffee , New York Times . November 3, 2002. 
  22. McDonald's Restaurants in New England & Albany, New York to Introduce Newman's Own Organics Coffee from Green Mountain Coffee Roasters , Business Wire . October 27, 2005.