Green Mountain Coffee Roasters Advances New Product Innovation Strategy with Keurig Relocation to Burlington, Mass.
READING, Mass., Jun 19, 2012 (BUSINESS WIRE) -- Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffee makers, today announces the relocation of its Massachusetts-based Keurig business unit to an office complex in Burlington, Mass. The newly leased location will provide the increased square footage required to support the Company's expanding innovation efforts and new product development capabilities.
"Based on the continued growth of our business and the strategic opportunities we see to pursue innovations in categories adjacent to our current single-serve products, it was essential to find a location that could support our current and anticipated growth," said Michelle Stacy, president of GMCR's Keurig business unit.
"This new campus will enable us to consolidate our resources in a single location, allowing for even greater collaboration among our functional teams while, at the same time, giving us the ability to greatly enlarge and improve space dedicated to research and development." The new campus will be located in the area of 63 South Avenue in Burlington. The relocation from the Company's three existing Massachusetts facilities in Reading, Wakefield and Woburn is anticipated to take place in phases over the next several years. GMCR currently has 519 employees in Massachusetts.
"In addition to enabling the expansion of our research and development capabilities, the design and layout of the new Burlington-based campus will provide an atmosphere that strengthens the underpinnings of the GMCR culture, as well as the Keurig(R) brand, by fostering closer teamwork and providing for space dedicated to the ongoing training and education of our employees, a critical facet of GMCR's culture and philosophy," said Stacy.
In addition to its current Massachusetts locations, GMCR has research and development facilities in Waterbury, Vermont and Montreal, Quebec. GMCR also operates production and distribution facilities in Castroville, Calif.; Knoxville, Tenn.; Essex, Waterbury and Williston, Vt.; Sumner, Wash.; Toronto, Ontario; and, Montreal, Quebec and is in the process of beginning production at a new facility in Windsor, Va.
For two consecutive years, Keurig has been named one of the Top Places to Work in Massachusetts in the annual employee-based survey from The Boston Globe.
About Green Mountain Coffee Roasters, Inc. (NASDAQ:GMCR) As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative Keurig(R) Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by offsetting 100 percent of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating at least five percent of its pre-tax profits to social and environmental projects.
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.
GMCR-K SOURCE: Green Mountain Coffee Roasters, Inc.
CONTACT: Green Mountain Coffee Roasters, Inc. Suzanne DuLong, 802-488-2600 VP IR & Corporate Comm Investor.Services@GMCR.com Copyright Business Wire 2012 -0- KEYWORD: United States
North America
Massachusetts
Vermont INDUSTRY KEYWORD: Retail
Food/Beverage
Other Retail SUBJECT CODE: Product/Service
http://www.cnbc.com/id/47878387
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