GMCR: Green Mountain Coffee Changes Name to Include Keurig

by Burke Speaker | March 12, 2014 9:31 am

Say goodbye to Green Mountain Coffee (GMCR[1]): The coffeemakers has officially changed its name to Keurig Green Mountain.

[2]Shareholders approved the name change last week after it was announced in January that the company wanted its brand to better reflect the single-cup Keurig coffee machines.

While a bit more difficult to pronounce and certainly a hit to its branding, the company formerly known as Green Mountain Coffee is instead focused on the future.

“Our new name better reflects who we are as a company today and captures our aspirations for the future,” said CEO Brian Kelley, in a statement.

The company will keep its stock ticker of GMCR.

In related news, the company is currently advancing operations on a machine for cold drinks dubbed Keurig Cold.

In February, Coca-Cola announced that it would be buying a 10% stake in the company for $1.25 billion.

The partnership would allow Coca-Cola to sell its beverage brands via the new machine to allow customers to create them at home. 

GMCR stock is up 40% year to date.

Keurig Green Mountain sells Keurig Single Cup Brewers and Arabica bean coffees (including Fair Trade Certified and certified organic) and blends offered in K-Cup and Vue packs (single serve packs) for use with its Keurig Single Cup Brewers.

Source URL: https://investorplace.com/2014/03/gmcr-green-mountain-coffee-changes-name-keurig/

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