Coca-Cola agreed to buy a 10 percent stake in Green Mountain Coffee Roasters for about $1.25 billion, and will work with the maker of Keurig coffee brewers to introduce a system for producing single-serve cold drinks. Teaming up with Green Mountain on new beverages will help Atlanta-based Coca-Cola boost sales, said Marc Riddick, an analyst at Williams Capital Group LP in New York.
TAGS: coffee, office coffee service, OCS business, vending, Green Mountain Coffee Roasters Inc., Lawrence J. Blanford, GMCR 2012 third quarter, Keurig single-up brewing system, K-Cup, Keurig Vue, Starbucks, Kroger's WATERBURY, VT -- Green Mountain Coffee Roasters Inc.'s net income increased 30% in the third quarter of fiscal 2012, pushed by demand for its Keurig single-up brewing system. Net income in the quarter ended June 23 was $73.3 million, or 47¢ a share, up from $56.35 million, or 38¢ per share, in the same period a year ago. Net sales increased 15% to $303.31 million, from $264.08 million a year
In an open letter and ad campaign, Equal Exchange, an importer of coffee and other commodities, is asking Green Mountain Coffee Roasters to leave Fair Trade USA, a certification organization. Equal Exchange, a Massachusetts-based importer of "fair trade" coffee, cocoa and other commodities, has taken out two full-page ads in Vermont's largest daily newspaper, the Burlington Free Press, taking local hero Green Mountain Coffee Roasters to the woodshed. At issue is what constitutes "fair trade."
Green Mountain Coffee Roasters saw fourth-quarter profit nearly triple as sales rose 91 percent. The maker of Keurig single-cup brewers said it earned $75.4 million, or 47¢ a share, for the quarter that ended Sept. 24, up from $27 million, or 20¢ per share, a year earlier.
Green Mountain Coffee Roasters Inc., Keurig, K-Cup, office coffee service, OCS business, vending, vending business, coffee news, Stephen L. Gibbs, Green Mountain accounting, K-Cup SEC reporting WATERBURY, VT -- Green Mountain Coffee Roasters Inc. has appointed Stephen L. Gibbs to the newly created position of vice-president and chief accounting officer. The company said it established the position to strengthen its accounting function and overall financial control environment. Gibbs will provide strategic leadership for the accounting operations, including financial reporting, accounting, tax, financial systems, policies and controls. He will report to chief financial officer and treasurer Frances G. Rathke. The
Green Mountain Energy Company announced that Lord & Taylor will purchase renewable energy for its flagship Manhattan and Eastchester, N.Y. stores. The retailer has committed to purchasing wind energy from Green Mountain for 100 percent of the two stores’ electricity usage.