WATERBURY, Vt.--(BUSINESS WIRE)--May 29, 2002--Green Mountain Coffee, Inc. (NASDAQ: GMCR) announced today that it has added two flavored coffee selections to its extensive line of K-Cups(TM). A K-Cup is a single-serve portion-pack coffee cartridge used in conjunction with the Keurig(R) coffee brewer to prepare a single cup of coffee in 30 seconds. With the addition today of Irish Cream and French Vanilla Decaf, Green Mountain Coffee customers may now choose from 19 coffees available in K-Cups.
Irish Cream and French Vanilla Decaf are the first additions to Green Mountain Coffee's line of K-Cups since the Company acquired 42 percent of the total equity of Keurig, Incorporated. To date, the Company has produced over 188 million K-Cups, exceeding the combined production of the other four North American coffee companies licensed to manufacture K-Cups.
Chris Howe, National Office Coffee Service (OCS) Channel Manager said, "I am pleased that we are able to offer a wider selection for our office customers' enjoyment. These specific coffees were chosen based on requests from our OCS distributors who we hope will benefit from the added breadth of our Keurig product offering."
Green Mountain Coffee, Inc. is a leader in the specialty coffee industry and has been recognized by Forbes Magazine for the past two years as one of the "200 Best Small Companies in America." The Company roasts high-quality arabica coffees and offers over 75 coffee selections including single-origin, estate, certified organic, Fair Trade, signature blends, and flavored coffees that it sells under the Green Mountain Coffee Roasters(R) and Frontier(R) Organic Coffee brands.
The majority of Green Mountain Coffee's revenue is derived from its wholesale operation that serves supermarkets, convenience stores, offices, and other locations where fine coffees are sold. Green Mountain Coffee also operates a direct mail business and an e-commerce website (http://www.GreenMountainCoffee.com) with secure online ordering for customers from its Waterbury, Vermont headquarters. Green Mountain Coffee seeks to make the world a better place for present and future generations by operating in an environmentally and socially conscientious manner.
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. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, fluctuations in availability and cost of high-quality green coffee precipitated by the current world over supply and resulting historically low commodity prices, organizational changes, the impact of a weaker economy, competition, funding availability, business conditions in the coffee industry and food industry in general, Green Mountain's level of success in continuing to attract new customers, Keurig Inc.'s ability to continue to grow in the office coffee service market and success in entering the home brewer market, variances from budgeted sales mix and growth rate, weather and special or unusual events, as well as other risks as described more fully in the Company's filings with the Securities and Exchange Commission.