Keurig Dr Pepper Inc., formerly Green Mountain Coffee Roasters (1981–2014) and Keurig Green Mountain (2014–2018), is a publicly traded American beverage and coffeemaker conglomerate with its headquarters in Burlington, Massachusetts. Formed in July 2018, with the merger of Keurig Green Mountain and Dr Pepper Snapple Group (formerly Dr. Pepper/7up Inc.), Keurig Dr Pepper offers over 125 hot and cold beverages. The company’s Canadian business unit subsidiary operates as Keurig Dr Pepper Canada (formerly Canada Dry Motts).
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The company’s east-coast division manufactures Keurig brewing systems; sources, produces and sells coffee, hot cocoa, teas and other beverages under various brands for its Keurig machines; it also sells coffee beans and ground coffee in bags and fractional packs. As of 2018, the newly merged conglomerate also sells sodas, juices and other soft drinks via its Dr Pepper Snapple division based in Texas.
Green Mountain Coffee Roasters (GMCR) was established in 1981. After regional and national expansion in the late 1980s, and an IPO in 1993, the company completed its acquisition of the brewing-machine manufacturer Keurig, Inc. in 2006, enabling rapid growth through the high-margin sales of its many varieties of single-serve K-Cup pods. In March 2014, GMCR changed its name to Keurig Green Mountain.
A publicly traded company from 1993 through 2015, Keurig Green Mountain was acquired by a group of investors led by JAB Holding Company in March 2016 for $13.9 billion in cash. Keurig Green Mountain became a privately held company for two years, and was an independent entity run by its pre-existing management team and a new CEO.
On July 9, 2018, Keurig Green Mountain acquired the Dr Pepper Snapple Group in an $18.7-billion deal. The combined company was renamed Keurig Dr Pepper, and traded publicly again on the New York Stock Exchange under the ticker “KDP” until 2020 when it switched to Nasdaq while retaining the same ticker. Shareholders of Dr Pepper Snapple Group own 13% of the combined company, with Keurig shareholder Mondelez International owning 13% to 14% of that fraction. JAB Holdings owns the remaining 73-74%.
On February 21, 2019, the company announced that they are building a second headquarters in Frisco, Texas
HISTORY
Green Mountain Coffee Roasters began in 1981 as a small café in Waitsfield, Vermont, roasting and serving coffee to the public and a few restaurants. The entrepreneur Bob Stiller bought a stake in this small specialty coffee roasting company after he discovered a cup of coffee that he enjoyed so much that he sought after its source. Stiller was dedicated to roasting exclusively arabica coffee beans.
In 1993, the company went public, being listed on the NASDAQ Stock Market under the stock symbol GMCR.
In 2002, Green Mountain signed an agreement to sell fair trade coffee under the Newman’s Own Organics label.
In 2006, the company acquired Keurig, Inc., a manufacturer of single-cup brewing systems.
In March 2009, Green Mountain company acquired Seattle-based Tully’s Coffee brand.
In November 2009, the company acquired the wholesale division of Canadian coffee provider Timothy’s World Coffee.
In December 2009, it acquired the California-based Diedrich Coffee.
In 2010, Green Mountain Coffee acquired Quebec-based coffee services company Van Houtte.
In February 2011, Green Mountain and Dunkin’ Donuts announced an agreement to make Dunkin’ Donuts coffee available in single-serve K-Cup pods for use with Keurig Single-Cup Brewers.
In March 2011, Green Mountain Coffee and Starbucks announced an agreement whereby Starbucks would sell its coffee in single-serve pods for brewing with Green Mountain’s Keurig machines. As part of the deal, Starbucks would sell Keurig machines in their stores.
In August 2011, the company sold the “Filterfresh” US coffee service portion of Van Houtte’s business to Aramark.
In February 2014, The Coca-Cola Company purchased a stake in Green Mountain, and made an agreement to support the new cold beverage system developed by Keurig which allows customers to make Coca-Cola brand beverages at home. Green Mountain also made a similar deal with Dr Pepper Snapple Group in 2015.
In March 2014, Green Mountain Coffee shareholders voted to change the company’s name to Keurig Green Mountain to reflect its business of selling Keurig coffee makers.
*Information from Forbes.com, Wikipedia.org, www.gmcr.com and www.keurigdrpepper.com.
**Video published on YouTube by “Green Mountain Coffee Roaster“
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