Overview
Green Mountain Coffee Roasters is a specialty coffee company based in Waterbury, Vermont. The company roasts 100% Arabica coffees and offers over 100 different coffee selections, including certified organic, Fair Trade Certified, estate, signature blends and flavored coffees that sell under the company's and Newman’s Own Organics brands.
Green Mountain Coffee Roasters went public in September 1993 and is listed on the NASDAQ Global Select Market under the stock symbol GMCR.
In 2006, the company acquired Keurig, Incorporated, a manufacturer of single-cup brewing systems. Keurig sells its single-cup brewers in domestic wholesale and retail markets and directly to end consumers. On September 14, 2010, Green Mountain Coffee bought Quebec-based coffee services company Van Houtte for $915 million. Green Mountain Coffee Roasters then sold the "Filterfresh" US coffee service portion of Van Houtte's business to Aramark on August, 29th 2011 for $145 million.
On September 28, 2010, the company's stock rose to an all-time high, but the company disclosed after the markets closed that the Securities and Exchange Commission has requested documents and data from Green Mountain Coffee Roasters related to an inquiry into how it accounts for revenue. The company announced that U.S. regulators had inquired into some of Green Mountain's accounting practices, including revenue recognition, and the large inventory with a single vendor, M. Block. Most analysts believe that the company practices are sound.
On March 10, 2011, Green Mountain Coffee and Starbucks announced a deal whereby Starbucks would sell its coffee in single-serve pods for brewing with Green Mountain's Keurig machines. Starbucks would sell Keurig machines in their stores as part of the deal. Green Mountain announced a similar agreement with Dunkin' Donuts in September 2011.
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