Keurig Green Mountain, Inc. (Keurig) (NASDAQ: GMCR) and The J.M. Smucker
Company (Smucker) (NYSE: SJM) have entered into a multiyear agreement
that provides for the expansion of their successful partnership for the
manufacturing, marketing, distribution, and sale of the Smucker family
of coffee brands , including the Folgers®, Folgers Gourmet Selections®,
Café Bustelo® and Millstone® brands, into Keurig® portion packs formats
that work with new Keurig® consumer and commercial brewing systems.
Smucker and Keurig first entered into a partnership in February 2010.
Today’s announcement recognizes the tremendous success of the Keurig and
Smucker strategic relationship, and both companies’ desire to broaden,
deepen and extend their partnership in a variety of channels throughout
the United States and Canada.
“We are excited to extend our partnership with Smucker and expand their
Keurig product offering into new Keurig systems, including our
forthcoming Keurig Bolt and Keurig 2.0 brewers,” said Mark Wood,
Keurig’s Senior Vice President, Global Hot Systems. “Folgers and
Millstone-branded Keurig packs are an important part of the Keurig
family of brands and have helped grow our Keurig installed base with
their beloved coffee brands.”
“This agreement strengthens our valuable partnership with Keurig, which
has been integral to ensuring we reach consumers across multiple
segments with the highest quality convenient solutions that meet their
preferences,” stated Mark Smucker, President, U.S. Retail Coffee. “The
Keurig platform continues to grow, and this agreement will further
enhance our leadership in the at home coffee category by expanding our
existing K-Cup pack offerings, participating in the new Keurig brewing
systems, and expanding our presence in multiple distribution channels.
We remain committed to the continued growth and success of Keurig
brewing systems.”
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.
Keurig Green Mountain Forward-Looking Statements
Certain information in this press release 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,
projection of payment of dividends, and the impact of the inquiry
initiated by the SEC and any related litigation or additional
governmental inquiry or enforcement proceedings, as well as litigation
asserting claims against the Company under the federal antitrust laws
and various state laws. 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 the
Company’s Form 10-K Part I, "Item 1A. Risk Factors," and Part II “Item
7. Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and elsewhere in this report and those described
from time to time in our future reports filed with the Securities and
Exchange Commission.
About The J.M. Smucker Company
For more than 115 years, The J.M. Smucker Company has been committed to
offering consumers quality products that bring families together to
share memorable meals and moments. Today, Smucker is a leading marketer
and manufacturer of fruit spreads, retail packaged coffee, peanut
butter, shortening and oils, ice cream toppings, sweetened condensed
milk, and natural foods products in North America. Its family of brands
includes Smucker's®, Folgers®, Dunkin’
Donuts®, Jif®, Crisco®,
Pillsbury®, Eagle Brand®, R.W.
Knudsen Family®, Hungry Jack®, Café
Bustelo®, Café Pilon®, truRoots®,
White Lily® and Martha White® in the
United States, along with Robin Hood®, Five Roses®,
Carnation® and Bick's® in Canada.
The Company remains rooted in the Basic Beliefs of Quality,
People, Ethics, Growth and Independence established by its
founder and namesake more than a century ago. For more information about
the Company, visit www.jmsmucker.com.
The J.M. Smucker Company is the owner of all trademarks referenced
herein, except for the following, which are used under license: Pillsbury®
is a trademark of The Pillsbury Company, LLC; Carnation® is a
trademark of Societe des Produits Nestle S.A.; and Dunkin' Donuts® is
a registered trademark of DD IP Holder LLC.
Dunkin' Donuts® brand is licensed to The J.M. Smucker Company for
packaged coffee products sold in retail channels such as grocery stores,
mass merchandisers, club stores, and drug stores. This information does
not pertain to Dunkin' Donuts® coffee or other products for sale
in Dunkin' Donuts® restaurants.
KGM-G
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