Reading, Mass. (February 28, 2013) – Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffee makers, today announces the addition of the Keurig® Vue® V500 to its family of Vue® brewing system models. Offering a smaller footprint and even lower price point in the series (SRP of $169.99), the new Vue® V500 combines Keurig® single serve simplicity with the popular customizable features of the Vue® series to deliver Keurig's® best cup to an even broader range of consumers.
First launched in February 2012, the premium Keurig® Vue® system is the only single cup brewing system in the marketplace with technology that allows users to customize the strength, size and temperature of each beverage. Paired with a variety of more than 60 coffee, tea and specialty beverage Vue® packs, including café-style beverages like lattes and cappuccinos, Vue® maintains the simplicity and convenience of the Keurig® K-Cup® single cup brewing system with added adjustable features. In addition, Vue® packs can be recycled wherever polypropylene/#5 plastic is accepted, currently in approximately half of U.S. communities.
The Keurig® Vue® system offers customizable features that allow users to:
- Brew Stronger: With Custom Brew Technology™, the Keurig® Vue® brewer adjusts water pressure, timing and airflow, so consumers can brew to better suit their taste preferences.
- Brew Bigger: Consumers can brew a larger travel mug with a variety of Vue® packs specially formulated to brew a bigger cup.
- Brew Hotter: Vue® offers a brewing temperature range between 187 and 197 degrees Fahrenheit, so consumers have more ways to customize the perfect cup to their temperature desires.
“With the addition of the V500 to our Keurig® Vue® series, even more consumers can experience the enhanced customizable benefits of Vue®,” says Michelle Stacy, president of GMCR's Keurig business unit. “We believe consumers will continue to choose the Keurig® brewer that best suits their personal preferences, whether it’s the variety of beverages available today in the K-Cup® system or the superior performance and customization that’s made possible with Vue®.”
Available beginning April 2, 2013, on www.keurig.com and www.greenmountaincoffee.com and at retailers nationwide, the new Vue® V500 offers:
- Fully programmable black and white touchscreen featuring auto on/off, temperature and strength control, energy saver mode and size selection
- Seven brew sizes — from 4 oz. to 16 oz. travel mug
- Removable 60 oz. water reservoir
- Removable drip tray with adjustable plate
- Brews in under one minute
The Vue® V500 brewer marks the third addition to the family of Keurig® Vue® at-home models, joining the Vue® V700 and V600 brewers. In September 2012, GMCR also launched its first Keurig® Vue® commercial model, the V1200 with innovative My Brew™ technology engineered by Keurig® to deliver an optimally prepared beverage to office users who might not be familiar with the Keurig® Vue® single cup brewing system by signaling the brewer to default to expertly selected settings for the chosen beverage based on a RFID (radio frequency identification) technology “recipe” tag.
Named coffee maker "Brand of the Year" in the 2012 Harris Poll EquiTrend® Equity Study, GMCR continues its quest to revolutionize the way beverages are brewed and enjoyed at home and in the workplace. In February 2013, the Keurig® Vue® Brewing System was named a 2013 Award Finalist by the internationally renowned Edison Awards™. The distinguished awards symbolize the persistence and excellence personified by Thomas Alva Edison, inspiring creative minds to remain in the forefront of innovation, creativity and ingenuity in the global economy. According to NPD Group, a leading syndicated data provider, in the fourth quarter of the 2012 calendar year (October-December) the Vue® brewing system was the #1 brewer based on dollar and unit sales for brewers priced above $175.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (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 a portion of its pre-tax profits to social and environmental projects. For more information, please visit us online at www.GMCR.com; www.greenmountaincoffeeroasters.com or www.keurig.com.
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 information contained in this filing, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are “forward-looking statements”. Generally, these statements may be identified by the use of words such as “may,” “will,” “would,” “expect,” “should,” “anticipate,” “estimate,” “believe,” “forecast,” “intend,” “plan” and similar expressions intended to identify forward-looking statements. 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 ability to maximize or successfully assert our intellectual property rights, the success of introducing and producing new product offerings, ability to attract and retain senior management, 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, and the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings.
These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by external factors such as damage to our reputation or brand name, business interruptions due to natural disasters or similar unexpected events, actions of competitors, customer relationships and financial condition, the ability to achieve expected cost savings and margin improvements, the successful acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, changes in regulatory requirements, and global economic conditions generally which would include the availability of financing, interest, inflation rates and investment return on retirement plan assets, as well as foreign currency fluctuations, risks associated with our information technology systems, the threat of data breaches or cyber-attacks, and other risks described in our filings with the Securities and Exchange Commission.
Actual results could differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
*Source: Harris Poll 2012 Harris Poll Equitrend® Study
**Source: The Edison Awards is a program conducted by Edison Universe, a 501(c)(3) charitable organization dedicated to fostering future innovators
***Source: NPD All Channels - Total Coffeemaker category includes all coffeemakers and espresso makers. NPD data does not include all retailers, and is estimated to represent 35-40% of the total market