WATERBURY, Vt., Sep 07, 2010 (BUSINESS WIRE) -- Green Mountain Coffee Roasters, Inc., announced today a price increase. The increase will occur across all sales channels and will be effective beginning October 11, 2010. Consumers could expect to see a purchase price increase of approximately 10 to 15 percent over the next several months as a result.
The increase is in response to several factors affecting the coffee industry including a sustained increase in the price of green coffee, differentials for premium quality coffees, increases in prices of other raw materials, as well as higher packaging and transportation costs. Over the past three months, green coffee prices have increased approximately 31 percent.
"Like others in the coffee industry, we have been closely monitoring rising green coffee costs and increases in other input costs like cocoa and packaging for several months," said Scott McCreary, president of GMCR's Specialty Coffee business unit. "While we have the flexibility to absorb some short-term cost increases, the sustained nature of the increases we've experienced over the past three months led us to conclude it is necessary to adjust our pricing."
About Green Mountain Coffee Roasters, Inc.
As a leader in the specialty coffee industry, Green Mountain Coffee Roasters, Inc. is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR's operations are managed through two business units.
The Specialty Coffee business unit produces coffee, tea and hot cocoa from its family of brands, including Tully's Coffee(R), Green Mountain Coffee(R), Newman's Own(R) Organics coffee, Timothy's World Coffee(R) and Diedrich, Coffee People and Gloria Jeans(R), a trademark licensed to the Company for use in North America and owned by Gloria Jeans Coffees International Pty. Ltd. The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup(R) portion packs for Keurig(R) Single-Cup Brewers are produced by a variety of roasters, including Green Mountain Coffee, Tully's, Timothy's and Diedrich. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certified(TM) coffee, and donating at least five percent of its pre-tax profits to social and environmental projects.
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