Mr. Coffee Single Cup Brewer Recall Does Not Involve Keurig Brewers
No Impact on Green Mountain Coffee Roaster, Inc.’s Business or Financial Outlook
Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffee makers, is aware that Sunbeam Products, Inc. (d/b/a Jarden Consumer Solutions, or “JCS”) — in cooperation with the Consumer Products Safety Commission (CPSC) and Health Canada — has announced a recall of the Mr. Coffee® Single Cup Brewing System.
Because there is the potential for confusion related to this matter, GMCR wants to clarify that Keurig® Single Serve Brewer models manufactured by or for GMCR’s Keurig business unit and sold under the Keurig® brand are not involved in this recall, nor are any other brewers featuring Keurig Brewed® technology manufactured by JCS or any other Keurig-licensed brewer manufacturers. JCS has a license from GMCR’s Keurig business unit to use certain aspects of Keurig’s technology to enable Mr. Coffee® Single Cup brewers to use K-Cup® packs.
According to the recall notice, the recall involves only Mr. Coffee® brewers with model numbers BVMC-KG1, BVMC-KG1-001, BVMC-KG1-044, BVMC-KG1A, BVMC-KG1A-001, BVMC-KG1-BEA, BVMC-KG1BP-PAL, BVMC-KG1-WM, BVMC-KG1-WM-001, BVMC-KG1R-001, BVMC-KG1R-006, and BVMC-KG1W-001. It has been determined that steam can build up in the brewing chamber of the Mr. Coffee® brewer, forcing the brewing chamber to open prematurely.
The recalled Mr. Coffee® brewers incorporate some different design and construction elements than those single cup brewers manufactured by or for GMCR’s Keurig business unit and sold under the Keurig® brand, which are not susceptible to the issue described above that is impacting the recalled Mr. Coffee® brewers.
GMCR does not expect the recall of Mr. Coffee® brewers to impact its financial results or outlook.
Consumers can confirm if they own one of the recalled Mr. Coffee® machines by checking the model number printed on the bottom of the brewer and comparing it to the model numbers involved in this recall as noted above and at www.mrcoffeerecall.com. According to the CPSC and JCS, consumers should immediately stop using the recalled coffeemaker and contact JCS at www.mrcoffeerecall.com or toll free at 800-993-8609 to receive instructions on how to obtain a replacement unit. GMCR has contacted consumers who purchased the involved brewer online from its consumer-direct websites — Green MountainCoffee.com, Keurig.com or Keurig.ca — to make them aware of the recall.
Additional questions about the recall should be directed to JCS at 800-993-8609.
About Green Mountain Coffee Roasters, Inc.
As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative Keurig® Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating a portion of its pre-tax profits to social and environmental projects.
GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, 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 GMCR as it is released.
Certain information contained in this release, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Generally, these statements may be identified by the use of words such as “may,” “will,” “would,” “expect,” “should,” “anticipate,” “estimate,” “believe,” “forecast,” “intend,” “plan” and similar expressions intended to identify forward-looking statements. These statements may relate to: the expected impact of raw material costs and our pricing actions on our results of operations and gross margins, expected trends in net sales and earnings performance and other financial measures, the expected productivity and working capital improvements, the ability to maximize or successfully assert our intellectual property rights, the success of introducing and producing new product offerings, ability to attract and retain senior management, the impact of foreign exchange fluctuations, the adequacy of internally generated funds and existing sources of liquidity, such as the availability of bank financing, the expected results of operations of businesses acquired by us, our ability to issue debt or additional equity securities, our expectations regarding purchasing shares of our common stock under the existing authorizations, and the impact of the inquiry initiated by the SEC and any related litigation or additional governmental inquiry or enforcement proceedings.
These and other forward-looking statements are based on management’s current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Results may be materially affected by external factors such as damage to our reputation or brand name, business interruptions due to natural disasters or similar unexpected events, actions of competitors, customer relationships and financial condition, the ability to achieve expected cost savings and margin improvements, the successful acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, changes in regulatory requirements, and global economic conditions generally which would include the availability of financing, interest, inflation rates and investment return on retirement plan assets, as well as foreign currency fluctuations, risks associated with our information technology systems, the threat of data breaches or cyber-attacks, and other risks described in the Company’s filings with the Securities and Exchange Commission.
Actual results could differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update or revise publicly, any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Green Mountain Coffee Roasters, Inc.
Suzanne DuLong, 802-488-2600
VP IR & Corporate Comm