WATERBURY, Vt., and ORRVILLE, Ohio, Feb. 24, 2010 /PRNewswire via COMTEX/ -- Green Mountain Coffee Roasters, Inc. (GMCR) (Nasdaq: GMCR) and The J.M. Smucker Company (Smucker) (NYSE: SJM) today announced a multiyear manufacturing and distribution agreement under which GMCR will manufacture certain coffee brands owned by Smucker, including Folgers(R) Gourmet Selections(TM) and Millstone(R) in single-serve K-Cup(R) portion packs for Keurig(R) Single-Cup Brewers. Smucker is a leader in the U.S. retail coffee market with its brands Folgers, Folgers Gourmet Selections, and Millstone. Smucker also manufactures and markets the Dunkin Donuts(R) coffee brand through retail channels in North America.
Under terms of the agreement, Smucker will have the ability to market and sell a variety of Folgers Gourmet Selections and Millstone K-Cups to consumers in the U.S. and Canada through grocery stores, mass merchandisers, drugstores, and wholesale clubs, as well as through Smucker retail websites. GMCR's Keurig business unit will have the ability to market and sell Smucker coffee brands of K-Cups direct to consumers via its website: http://www.keurig.com/.
Green Mountain Coffee Roasters, Inc. will be the exclusive manufacturer of Smucker coffee brands of K-Cups using roasted and blended coffee beans provided by Smucker. A select offering of Smucker coffee brands of K-Cups are expected to be available to consumers beginning in the fall of 2010.
"Adding the power of well-known Folger's Gourmet Selections and Millstone coffee brands to the broad and growing assortment of K-Cup portion pack varieties available to consumers expands the appeal of the Keurig Single-Cup Brewing system, and will allow us to reach more consumers in more geographies," said Lawrence J. Blanford, president and CEO, Green Mountain Coffee Roasters, Inc. "We look forward to Smucker's participation in aiding Keurig Single-Cup system adoption through grocery channels."
"We are excited about the opportunity for our coffee brands to reach consumers through the fastest growing single-serve coffee brewing system," said Vincent C. Byrd, President U.S. Retail Coffee, The J.M. Smucker Company "With this agreement, consumers of our coffee brands will benefit from the quality coffee experience and convenience provided by Keurig's Single-Cup Brewing technology."
Additional terms and conditions of the agreement were not disclosed.
About Green Mountain Coffee Roasters, Inc. (Nasdaq: GMCR)
As a leader in the specialty coffee industry, Green Mountain Coffee Roasters, Inc. is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR's operations are managed through two business units. The Specialty Coffee business unit produces coffee, tea and hot cocoa from its family of brands, including Green Mountain Coffee(R), Newman's Own(R) Organics coffee Tully's Coffee(R), and Timothy's World Coffee(R). The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup(R) portion packs for Keurig(R) Single-Cup Brewers are produced by a variety of licensed roasters, including Green Mountain Coffee, Tully's Coffee and Timothy's. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certified(TM) coffee, and donating at least five percent of its pre-tax profits to social and environmental projects. Visit http://www.gmcr.com/ for more information.
GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its web site, including news releases and its complete financial statements, as filed with the SEC. GMCR encourages investors to consult this section of its web site regularly for important information and news. Additionally, by subscribing to GMCR's automatic email news release delivery, individuals can receive news directly from GMCR as it is released.
About The J. M. Smucker Company
For more than 110 years, The J.M. Smucker Company has been committed to offering consumers quality products that help families create memorable mealtime moments. Today, Smucker is the leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America. Its family of brands includes Smucker's(R), Folgers(R), Dunkin' Donuts(R), Jif(R), Crisco(R), Pillsbury(R), Eagle Brand(R), R.W. Knudsen Family(R), Hungry Jack(R), White Lily(R) and Martha White(R) in the United States, along with Robin Hood(R), Five Roses(R), Carnation(R), Europe's Best(R) and Bick's(R) 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. The Company has appeared on FORTUNE Magazine's list of the 100 Best Companies to Work For in the United States 12 times, ranking number one in 2004. For more information about the Company, visit http://www.smuckers.com/.
The J. M. Smucker Company is the owner of all trademarks, except Pillsbury is a trademark of The Pillsbury Company, LLC used under license; Carnation is a trademark of Societe des Produits Nestle S.A., used under license; and Dunkin' Donuts is a registered trademark of DD IP Holder LLC used under license.
SOURCE The J. M. Smucker Company
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