Financial terms of the agreement were not disclosed.
“With such a rich brand heritage and super-premium coffee, illy provides just the kind of experience Keurig fans love to discover and enjoy,” said Mark Wood, Chief Product Officer, Hot Systems at Keurig. “Offering illy for K-Cup pods combines our passion for coffee and our deep commitment to deliver quality with the convenience and consistency expected from Keurig brewed beverages.”
The companies plan to launch a selection of illy® coffees in K-Cup® pods beginning with limited distribution in fall 2015, with plans to expand availability in 2016. Like illy’s coffees available in other formats, each K-Cup® pod will contain illy’s distinctive blend of nine Arabica beans from around the world, sourced through direct trade to ensure utmost quality and traceability, according to the principles of sustainable development. The results are a consistently balanced taste that is smooth, rich, and full-bodied, and soon to be available to Keurig® users who enjoy the simplicity and consistency of Keurig® brewing.
“Over the past 82 years, the illy family has obsessively pursued its passion to offer the best coffee in the world and to be the world reference for coffee culture and excellence,” said Andrea Illy, Chairman and CEO of illycaffè S.p.A. “We are pleased to extend the illy experience to Keurig users looking for a premium coffee that delivers extraordinary taste.”
Over 25 years ago, illy pioneered the direct trade model by cultivating personal, long-lasting, relationships with farmers directly working with them to grow the best of the best beans and purchasing them at prices higher than market values to ensure the growers make a good profit. Through illy’s Universita del Caffe, it provides hands-on instruction to growers all over the world—helping them to develop skills, techniques, and stay up-to-date on innovations in sustainability, at no cost to them.
All illy® coffee K-Cup® pods will be marked with the Keurig Brewed® seal indicating the product has passed rigorous testing, assuring the quality, taste, and integrity consumers expect from the Keurig® brand.
Keurig® hot system brewers use innovative brewing technology to deliver a fresh-brewed, perfect single cup or carafe of hot or brewed over ice coffee, tea, cocoa, or fruit brews every time at just the touch of a button. The Keurig® hot brewing system was recognized as the “Brand of the Year” in the single serve coffee maker category in the 2015 Harris Poll EquiTrend® Equity Study. For the fourth consecutive year, the Keurig® system has received the highest ranking in the coffee maker category based on consumers’ perceptions of familiarity, quality, and purchase consideration.
illycaffè was founded in Trieste, Italy in 1933 and is headquartered there today; the privately held company manufactures and markets a unique blend of 100% Arabica coffee and is the leading brand in the premium quality coffee sector. The U.S. headquarters are in Rye Brook, New York.
Nearly 7 million cups of illy coffee are consumed daily throughout the world, and the brand is sold in more than 140 countries and served in over 100,000 of the world’s finest restaurants, cafés and hotels. There are approximately 230 monobrand illy shops/cafés in 43 countries.
Based on partnerships underpinned by the principles of sustainable development, illy purchases green coffee beans directly from growers of the highest quality Arabica and has long-term relationships with the world’s best growers in Brazil, Central America, India and Africa, sharing know-how and technology and paying higher than market compensation. In 1999, the company established the Coffee University and continues to operate with a mission to foster and spread the culture of coffee; this center of excellence in more than 20 countries provides comprehensive academic and hands-on training for coffee growers, café owners, baristas and enthusiasts covering every aspect of the product. In 2015 illy was named a World’s Most Ethical Company by the Ethisphere Institute for a third consecutive year and is the world’s only company to hold the Responsible Supply Chain Process certification from DNV GL, a leading industrial standards arbiter.
Approximately 1,084 official staff work for illy, and in 2014 the company posted consolidated revenues of €391 million. Illycaffè is an official partner of Expo 2015, proudly creating and managing the content, exhibits and events at the Expo Coffee Cluster and participating in the USA Pavilion as official coffee partner. www.illy.com
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About Keurig Green Mountain, Inc.
As a leader in specialty coffee, coffee makers, teas and other beverages, Keurig Green Mountain (Keurig) (NASDAQ: GMCR), is recognized for its award-winning beverages, innovative brewing technology, and socially responsible business practices. The Company has inspired consumer passion for its products by revolutionizing beverage preparation at home and in the workplace. Keurig supports local and global communities by investing in sustainably-grown coffee and by its active involvement in a variety of social and environmental projects. By helping consumers drink for themselves, we believe we can brew a better world. For more information visit: www.KeurigGreenMountain.com. To purchase Keurig® products visit: www.Keurig.com or www.Keurig.ca. For more information about the new Keurig® KOLD™ system, coming soon: www.Keurig.com/kold
Keurig routinely posts information that may be of importance to investors in the Investor Relations section of its website, www.KeurigGreenMountain.com, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from Keurig as it is released.
Keurig Green Mountain Forward-Looking Statements
Certain information in this press release constitutes “forward-looking statements.” Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “seeks” or words of similar meaning, or future or conditional verbs, such as “will,” “should,” “could,” “may,” “aims,” “intends,” or “projects.” However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements may relate to the success of introducing and producing new product offerings. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part I, “Item 1A. Risk Factors” and Part II “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our fiscal 2014 Annual Report filed on Form 10-K, elsewhere in that report and those described from time to time in our future reports filed with the Securities and Exchange Commission.
Keurig Green Mountain
Kristen Mercure, 802-488-2498
illy caffè North America
Adam Paige, 914-253-4436
Giovanna Gregori, +39 333 6810845
Keurig Green Mountain
Kristi Bonner, 646-762-8095