Keurig Green Mountain, Inc (NASDAQ: GMCR), announced today a price increase of up to 9 percent on all portion packs sold by Keurig for use in its Keurig brewing systems and on all its traditional bagged, fractional packs, and bulk coffee products. This price increase will be effective beginning November 3, 2014. This price increase is in direct response to several factors affecting the cost environment in the coffee and consumer packaged goods industries, generally, including a sustained increase in the price of green coffee and cocoa, along with increases in packaging materials, energy, and transportation costs. Over the past year, green coffee prices, alone, have increased approximately fifty-five percent.
“We have been closely monitoring increasing costs, including the cost of green coffee,” said John Whoriskey, President of U.S. Sales and Marketing at Keurig. “Many of our competitors already have implemented price increases in light of the reality of sustained input cost increases. After careful review, we determined that it is necessary for us to adopt a small price increase in light of these higher costs. We understand that consumers have many beverage options, and we will continue to innovate and price competitively to win consumers’ business.”
AboutKeurig 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, innovativebrewing 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.Keurigsupports 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.comorwww.Keurig.ca.
Keurigroutinely 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'sautomatic email news release delivery, individuals can receive news directly fromKeurigas it is released.
Source: WATERBURY, Vt.--(BUSINESS WIRE)--Keurig Green Mountain, Inc August 14, 2014