Company Furthers Commitment to the State with New Facilities and
WATERBURY, Vt.--(BUSINESS WIRE)--
Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in
specialty coffee and coffeemakers, today outlined its plans for
continued growth in Vermont. GMCR currently operates from multiple
locations in Essex, Waterbury and Williston, Vermont and is planning for
growth in all three communities as well as for new locations in South
"As a proud and long-time corporate citizen of Vermont, we are always
pleased to share news of our continued expansion. Vermont has instilled
in GMCR many of the values that have guided our Company from a small
coffee retailer on the Waitsfield village green to one reinventing how
North America prepares coffee and other beverages both at home and away
from home," said Lawrence J. Blanford, President and CEO of GMCR. "As we
look to support the continued growth in our business, we expect to lease
additional office space, build-out new facilities and hire new employees
in multiple communities across Vermont. With these expansion plans, we
could increase our Vermont employee base by 30% over the next 12 to 18
As of the end of its third quarter fiscal 2011 on June 25, 2011, GMCR
employed 4,760 people in North America, roughly 30% of whom worked in
Vermont. GMCR also operates locations in Reading, Wakefield and Woburn,
Massachusetts; Castroville, California; Knoxville, Tennessee; Sumner,
Washington; Toronto, Ontario; and, Montreal, Quebec. As previously
disclosed, GMCR intends to add two additional manufacturing and
production facilities in the U.S. in its fiscal year 2012 and work
toward site selection for those locations continues.
The Company outlined its expansion in Vermont by community as follows:
In Waterbury, where GMCR currently occupies 12 separate buildings, the
Company recently completed a variety of facility- and
infrastructure-related projects including:
A 75,000 square foot expansion to the Company's existing manufacturing
and production facility, designed to accommodate increased packaging
capabilities, expand its current coffee tasting and quality control
lab and provide office space for the Company's Specialty Coffee
business unit. GMCR accelerated planned employee moves into the space
after roughly 150 workers were displaced following flood-related
damage in Waterbury.
The construction of a private road connecting its Pilgrim Park and
Demeritt Place campuses, making for more efficient transportation
between locations, and relieving production-related traffic on Main
Street. Construction on the road began in fall 2010 in cooperation
with the Town and Village of Waterbury, and the road opened for use in
mid-summer. The private road provides a direct link between GMCR's
offices on the east side of Waterbury and the manufacturing and
production facility, distribution center, and offices located in
Pilgrim Park so that employees and Company-related traffic, including
trucks, can travel between these locations without accessing the
town's retail district. Construction of the private road was funded by
GMCR. The Company also will maintain the road for the intended use of
GMCR employees, GMCR truck traffic and other employees of businesses
located in Pilgrim Park.
The occupation of a 35,000 square foot structure on 53 acres purchased
in Waterbury Center. GMCR expects to renovate the existing facility,
which will house its new beverage research and development efforts as
well as other support functions.
Scott McCreary, President of GMCR's Specialty Coffee business unit,
commented, "We are fortunate for the opportunity to grow our presence in
our ‘home town' of Waterbury. We see the expansion as a positive for the
community as we are creating jobs, and through the development of the
private road, giving back to the community by reducing Main Street
traffic flow and congestion."
In Essex, GMCR is taking new space and planning a major capacity
expansion at its existing production facility. The expanded facility
will accommodate new coffee roasting, grinding, flavoring, and packaging
By the fall of 2012, the Company expects to occupy the building at 5
New England Drive, currently occupied by Gardner Supply, which will be
Approximately 240,000 square feet will be added to the Company's
current location at 30 Gauthier Drive connecting the two existing
buildings. Construction on the addition commenced in October 2011 and
is expected to be completed in the summer of 2012.
Said McCreary, "We are pleased to be able to continue our commitment to
being an employer of choice in all our communities, providing continued
employment growth, career opportunities and a work place that looks to
continue to change how the world views business.
GMCR's growth has launched it into a new community in the area, with the
Company preparing to occupy leased space and/or buildings in South
Burlington's Technology Park during 2012 including:
53,500 square feet of office space at 124 Technology Park Way, a new
Class A commercial building where it intends to accommodate certain
general and administrative functions including finance, human
resources and corporate social responsibility functions. Still in
planning/architectural stages, the shell of the structure is LEED™
certified and GMCR aims to have the space LEED Gold certified upon
completion of the renovation.
8,632 square feet in an existing building at 30 Community Drive where
the Company will build out a data center. Construction is expected to
be fitted within the original structure.
20,000 square feet of office space over three floors at 55 Community
Drive, an existing LEED certified Class A building.
Finally, GMCR also continues to grow its presence in Williston:
At 687 Marshall Avenue, GMCR is converting a portion of its existing
228,000 square feet of commercial space to accommodate additional
packaging capabilities. At the same time, the Company is leasing
additional space in the area for its kitting and special packing
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee
Roasters, Inc. (NASDAQ: GMCR), is recognized for its award-winning
coffees, innovative Keurig Single-Cup brewing technology, and socially
responsible business practices. GMCR supports local and global
communities by offsetting 100% of its direct greenhouse gas emissions,
investing in sustainably-grown coffee, and donating at least five
percent of its pre-tax profits to social and environmental projects.
GMCR routinely posts information that may be of importance to investors
in the Investor Relations section of its website, 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 GMCR as it is released.
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. Generally, these statements can be
identified by the use of words such as "anticipate," "believe," "could,"
"estimate," "expect," "feel," "forecast," "intend," "may," "plan,"
"potential," "project," "should," "would," and similar expressions
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Owing to the
uncertainties inherent in forward-looking statements, actual results
could differ materially from those stated here. 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, the Company's success in efficiently and
effectively integrating the Company's acquisitions, the Company's
success in introducing and producing new product offerings, the ability
of lenders to honor their commitments under the Company's credit
facility, competition and other business conditions in the coffee
industry and food industry in general, fluctuations in availability and
cost of high-quality green coffee, 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 and Away from Home businesses,
the Company experiencing product liability, product recall and higher
than anticipated rates of warranty expense or sales returns associated
with a product quality or safety issue, the impact of the loss of major
customers for the Company or reduction in the volume of purchases by
major customers, delays in the timing of adding new locations with
existing customers, the Company's level of success in continuing to
attract new customers, sales mix variances, weather and special or
unusual events, the impact of the inquiry initiated by the SEC and any
related litigation or additional governmental investigative or
enforcement proceedings, 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 release. The Company does
not undertake to revise these statements to reflect subsequent
developments, other than in its regular, quarterly earnings releases.
Green Mountain Coffee Roasters, Inc.
VP IR & Corporate Comm
Source: Green Mountain Coffee Roasters, Inc.
News Provided by Acquire Media