PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
A home version of its single-cup brewers and the single-serving tea, coffee and cocoa packages from which the beverages are brewed helped Green Mountain Coffee Roasters lift sales by 70% in 2007.
A home version of its single-cup brewers and the single-serving tea, coffee and cocoa packages from which the beverages are brewed helped GreenMountainCoffee.com increase sales by 70% in 2007, says Ken Crites, director of consumer direct business.
Green Mountain, No. 314 in the Internet Retailer Top 500 Guide developed the home version of the single-cup brewer based on the popularity of the product in offices, Crites says. Consumers insert K-cups, small plastic containers containing the coffee, tea or cocoa, into the brewing device to brew a 7.25 oz. to 11.25 oz. hot beverage in a matter of seconds.
“The brewers were a big enough success in offices that we decided to make a home version of these that will fit on a regular kitchen counter at a reasonable price,” he says. “They’ve been a huge hit and these brewers are now available at 9,000 retail stores as well as our web sites and a bunch of other web sites.”
The brewers are available at GreenMountainCoffee.com and a sister site, Keurig.com. Retailers carrying the brewers include Macy’s, Target, and Bed Bath and Beyond.
Because retailers typically carry a limited assortment of K-cups, customers often order them online from the 100 different varieties available, contributing to the retailer’s online revenue, Crites says. Whether in-store or online, “we want to be where our consumers prefer to shop,” he adds.