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:
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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.