Kinda crazy big news...what's going to happen to their own machines and format? I bet they double-dip and do both.
Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, and International Coffee & Tea, LLC announce the companies have reached a multiyear agreement to make The Coffee Bean & Tea Leaf® brand available in K-Cup® packs for the Keurig® single cup brewing system. A select offering of The Coffee Bean & Tea Leaf K-Cup® packs are planned to be available in a variety of channels in the United States beginning in spring 2014. The new selections will join GMCR's family of beverage brands as a premium offering in the Keurig® brewing system.
"We're delighted to partner with The Coffee Bean & Tea Leaf®, a company based on high-quality products and sustainable values," said Brian P. Kelley, President and CEO of GMCR. "Our strategy to partner with world-class coffee and tea brands like The Coffee Bean & Tea Leaf® further broadens consumer choice in the Keurig® system and helps us provide a wide range of beverages for every taste."
The Coffee Bean & Tea Leaf® is the oldest and largest privately-held specialty coffee and tea retailer in the United States. Known for sourcing and providing a diverse selection of the highest quality coffees and teas since 1963, The Coffee Bean & Tea Leaf® has built relationships with the best private coffee farms and tea estates around the world, selecting only the finest Arabica beans.
"As we celebrate our 50th Anniversary in 2013, including our heritage of sharing our passion with our loyal customers, we now also look ahead to a new milestone: This agreement that will expand our reach among both our current and prospective customers," said Mel Elias, President and CEO of The Coffee Bean & Tea Leaf®. "We look forward to working with GMCR to bring our products to even more homes with Keurig Brewed® quality and convenience."
GMCR's Keurig® single cup brewers for in home and office use utilize innovative brewing and single-cup technology to deliver a fresh-brewed, perfect cup of hot or iced coffee, tea, cocoa, or fruit brews every time at just the touch of a button. According to the NPD Group, Keurig® single cup brewers were the top four bestselling coffee makers during GMCR's fiscal second quarter 2013 by dollar sales.
- Jay Brewer
- Editor, Single Serve Coffee
- Current arsenal: Dolce Gusto, Bunn My Cafe, Senseo, GPOD, OPOD, Keurig B40, B50, B60, B70, & Assorted (N)espresso Machines...