Katie Deatsch , Senior Editor
WATERBURY, VERMONT (August 1, 2008) – Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), today announced it has chosen Knox County, Tennessee as the future home of a new manufacturing and distribution facility for the Green Mountain Coffee segment. The Company has closed on the purchase of a 334,000 square foot building on a 31 acre parcel of land in Knox County for approximately $10.4 million. The new site will support the brand’s national expansion and continued growth in the single-cup business.
The Knox County site is the latest in a series of expansions for Green Mountain Coffee, which maintains its headquarters in Waterbury, Vermont. In 2007, new K-Cup® production lines were added to its Waterbury plant, and the company opened a second manufacturing site in Essex, Vermont. The Tennessee facility will focus primarily on the production of K-Cup portion packs for the Keurig® single-cup brewing system and will expand to other packaging formats as needed.
Said Scott McCreary, Chief Operating Officer of Green Mountain Coffee, “As we continue to experience tremendous growth – particularly in the single-cup category – we need to ensure that we have the capacity to meet increasing demand for our products and that our production processes are as efficient as possible. Knox County’s central location allows us to reduce our distribution costs and shorten our delivery lead times, even as we serve new customers in a broader geographic region.”
Green Mountain Coffee chose the Knox County region in part because of the shared commitment to creating a sustainable future. Knoxville was designated as one of 12 Solar America Cities by the U.S. Department of Energy, and the community has taken an active role in understanding and addressing social and environmental issues. Green Mountain Coffee is working with McCarty, Holsaple & McCarty, a Knoxville-based architectural firm experienced in environmental design, to help maximize and enhance the energy-efficient attributes of the building.
“We are extremely excited about joining the Knoxville community and feel that the region, the community and the people we have met are just what we have been looking for in a new location,” said Jon Wettstein, VP of Supply Chain Operations at Green Mountain Coffee. “Vermont is our home and we look forward to continued growth within Vermont. The new Tennessee site will be the perfect complement to our existing facilities, which will allow us to meet our aggressive projections for growth in the years ahead.”
The Knoxville Chamber was the lead entity in a team, which included economic development partners at the Tennessee Valley Authority and the State of Tennessee Department of Economic Development, that recruited Green Mountain Coffee to Knoxville. Knox County Mayor Mike Ragsdale and Knoxville City Mayor Bill Haslam were instrumental in sharing insights on the region and providing support throughout the site selection process.
“We`re thrilled that Green Mountain Coffee is coming to Knoxville,” said Mike Edwards, the Knoxville Chamber`s President and CEO. “It is a high-growth company with a strong passion for the environment and its employees and suppliers, and it is a leader in the arena of corporate social responsibility. Green Mountain Coffee is going to be a tremendous addition to the Innovation Valley.”
About Green Mountain Coffee Roasters, Inc.
Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee segment sells more than 100 high-quality coffee selections, including Fair Trade Certified™ organic coffees, under the Green Mountain Coffee® and Newman’s Own® Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup® portion packs for Keurig® single-cup brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup coffee brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cups® through office distributors, retail and direct channels (www.Keurig.com). K-Cups are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.
Sandy Yusen, Director of Public Relations
Green Mountain Coffee