Jarden Consumer Solutions (JCS) intends to commercialize the new coffeemakers in the U.S. and Canada under the Mr. Coffee® brand featuring Keurig® -branded brewing technology to be sold to JCS’s retail customers alongside its other products.
Alejandro Pena, Sr. Vice President and General Manager, Global Appliances for Jarden Consumer Solutions, stated, "We are very excited about the opportunity to team up with Keurig. As the leader in at-home coffee brewing, the Mr. Coffee brand is able to make the Keurig single-cup brewing technology available to more consumers. This agreement represents an important step in creating another solution for our many consumers while satisfying their needs and broadening the Mr. Coffee portfolio of products."
"For Keurig, the opportunity to add the Mr. Coffee brand to the growing brands using Keurig single-cup technology is further proof for us that this technology is truly becoming mainstream," said John Whoriskey, Vice President and General Manager of the At Home Division of Keurig, Incorporated. "Keurig technology is revolutionizing the way coffee is made at home and we will continue to find ways to expand our reach and breadth so that many more consumers can enjoy the benefits of Keurig single-cup brewing."
Other terms and conditions of the development agreement were not disclosed.
About Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) and Keurig
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 Tully’s Coffee® , Green Mountain Coffee® and Newman’s Own® Organics 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 and Tully’s Coffee. Keurig's proprietary brewing system combines a pressurized hot water brewer with multiple varieties of K-Cup portion packs, which feature a patented design that preserves the freshness of gourmet coffee and tea. 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.GreenMountainCoffee.com and www.Keurig.com for more information.
About Jarden Consumer Solutions
Jarden Consumer Solutions (JCS), a subsidiary of Jarden Corporation (NYSE:JAH), is a leading consumer products company that designs, manufactures and markets, nationally and internationally, a diverse portfolio of consumer products under world-class brands such as Bionaire® , Crock-Pot® , FoodSaver® , Health o meter® , Holmes® , Mr. Coffee® , Oster® , Patton® , Rival® , Seal-a-Meal® , Sunbeam® and VillaWare® . JCS is headquartered in Boca Raton, Florida, and employs more than 10,000 people in 15 countries. More information about JCS can be found on the Web at www.jardencs.com.
Forward-Looking Statements (NASDAQ: GMCR)
Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee and any other increases in costs including fuel, Keurig’s ability to continue to grow and build profits with its roaster partners in the at home market, the Company’s success in efficiently and effectively integrating Tully’s wholesale operations and capacity into its Specialty Coffee business unit, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.
Sandy Yusen, Dir. Of PR
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Mr. Coffee contact Cori Rice, Hill & Knowlton
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