MONTREAL & WATERBURY, Vt.--(BUSINESS WIRE)--
MTY Food Group, Inc. (MTY) (TSX: MTY), franchisor and operator of
multiple concepts of quick service restaurants, and Keurig Canada Inc.,
a subsidiary of Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR), a
leader in specialty coffee, coffee makers, teas and other beverages with
its innovative brewing technology, today announced the companies have
reached an agreement regarding the Van Houtte Café-Bistros franchise
network. Under the terms of the agreement, Keurig Canada will maintain
ownership of the Van Houtte brand, image, and wholesale business, while
MTY will own and operate Van Houtte Café-Bistros, taking them into a new
era of great food and beverage service.
MTY has acquired certain assets from Keurig used exclusively in
connection with the Van Houtte-branded Café-Bistro franchise system,
comprised of 50 franchised and one Keurig-owned café-bistro in Quebec,
which generated total franchise sales of over $25 million for
franchisees in the 12-month period ended September 29,2014 most recent
completed fiscal year. As part of the agreement, MTY will offer only Van
Houtte® branded coffee, and other Keurig Brewed® products, roasted and
packaged by Keurig for sale in Van Houtte-branded Café-Bistros. In turn,
Keurig Canada has licensed use of the Van Houtte® brand to MTY in
perpetuity. Financial terms of the transaction, which closed November 7th,
were not disclosed.
"MTY is very proud to become the trusted business partner of Keurig to
own and operate such an iconic franchise network," said Stanley Ma, CEO
of MTY. "The addition of the Van Houtte-branded Café-Bistros will
further increase the presence of MTY in the quick service restaurants
market, and we are confident the partnership with Keurig will benefit
MTY, Keurig and the franchisees of the network."
"Through this relationship with MTY, Keurig will have the opportunity to
continue to focus on roasting, packaging and distributing the quality
Van Houtte coffees our consumers love and expect both in their
neighborhood Van Houtte-branded Café-Bistros as well as in local stores
and offices," said Stéphane Glorieux, president of Keurig Canada. "We
know that MTY's expertise in operating quick service restaurants will
ensure the high-quality expectations associated with the Van Houtte
brand and will be well represented at the Van Houtte-branded
Café-Bistros going forward."
About MTY Food Group, Inc.
MTY Group Inc. (TSX: MTY) owns and operates a network of over 30 brands
and 2,700 franchised restaurants. With 35 years of experience and a
solid reputation on the market, MTY is a leader in the quick service
restaurant industry in Canada.
MTY Forward Looking Statements
Certain information in this News Release may constitute
"forward-looking" information that involves known and unknown risks,
uncertainties, future expectations and other factors which may cause the
actual results, performance or achievements of the Company or industry
results, to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking
information. When used in this News Release, this information may
include words such as "anticipate", "estimate", "may", "will", "expect",
"believe", "plan" and other terminology. This information reflects
current expectations regarding future events and operating performance
and speaks only as of the date of this News Release. Except as required
by law, we assume no obligation to update or revise forward-looking
information to reflect new events or circumstances. Additional
information is available in the Company's Management Discussion and
Analysis, which can be found on SEDAR at www.sedar.com.
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.
To purchase Keurig® products visit: www.Keurig.com or www.Keurig.ca.
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.
About Keurig Canada Inc.
Keurig Canada Inc. (Keurig Canada) is the Canadian business unit of
Keurig Green Mountain, Inc. (Keurig). The company offers a wide range of
premium coffees in a variety of formats, as well as Keurig® Single Cup
Brewers and many Keurig® brewed coffees, teas and other beverages.
Consumers can enjoy Keurig Canada products whether they are at home, at
work, in a café-bistro and in other points of sale. Keurig Canada
markets flagship brands such as Keurig®, Van Houtte®, Timothy's World
Coffee®, Barista Prima Coffeehouse®, as well as Green Mountain Coffee®,
Tully's® and Café Escapes® to highlight a few.
In addition to revolutionizing the Canadian beverage marketplace, KeurigCanada is also a leader in sustainable development thanks to its
programs supporting local and global communities, and its initiatives to
reduce its environmental footprint.
The company's Canadian principle office, management team, and coffee
roasting and beverage packaging plants are located in Montreal, Quebec.
Also located in Quebec are Keurig Canada's subsidiaries, VKI
Technologies Inc., and Van Houtte Coffee Services Inc. who together
offer innovative beverage service options to away from home customers
from branches in 30 cities across Canada. For more information, visit corp.keurig.ca,
Keurig Forward-Looking Statements
Certain information in this filing 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 pending 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 II, "Item 1A. Risk Factors" in our Form 10-Q
filed with the Securities and Exchange Commission for the thirteen weeks
ended June 28, 2014, and Part II "Item 7. Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our fiscal
2013 Annual Report filed on Form 10-K, as amended, and elsewhere in
those reports and those described from time to time in our future
reports filed with the Securities and Exchange Commission.
MTY Food Group Inc.
Eric Lefebvre, 514-336-8885
Media & Investors
Keurig Green Mountain, Inc.
Marie-Eve Belzile, 514-789-4967
Source: Keurig Green Mountain, Inc.
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