Cuisinart K-Cup Brewers On the Way - Keurig Announces Coffeemaker Partnership
It looks like we're going to be see Cuisinart branded single serve and one cup coffee makers in the future that won't be using coffee pods. Cuisinart and Keurig today announced they are entering into a licensing and distribution agreement that will enable Conair (Cuisinart's parente company) to develop, market and sell, in the United States and Canada, single-cup coffeemakers under the Cuisinart brand. The launch is currently planned for spring 2010. The products will be co-branded Cuisinart and Keurig and will be designed to work with the 200+ varieties of gourmet coffees, teas and hot cocoa packaged in Keurig’s patented K-Cup portion packs.
We'll have more details as we get them, but this is very exciting news indeed.
Cuisinart and Keurig Announce Coffeemaker Partnership
Conair Corporation and Keurig, Incorporated, a wholly-owned subsidiary of Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), today announced entering into a licensing and distribution agreement that will enable Conair to develop, market and sell, in the United States and Canada, single-cup coffeemakers under the Cuisinart brand. The launch is currently planned for spring 2010. The products will be co-branded Cuisinart ®and Keurig ® and will be designed to work with the 200+ varieties of gourmet coffees, teas and hot cocoa packaged in Keurig’s patented K-Cup ® portion packs.
Cuisinart holds the number one brand position in the coffeemaker category in the department and home specialty channels.
“We are thrilled to have the Cuisinart brand as a licensed Keurig partner. This is a major endorsement for the new way to brew coffee at home - one gourmet cup at a time with Keurig Brewed ® Technology. We believe that having Cuisinart develop, market and sell a co-branded brewer using Keurig’s K-Cup technology platform will help speed the adoption of single-cup brewing into homes in the United States and Canada. Consumers will now have more brands and models from which to choose as the number of coffeemakers utilizing Keurig’s technology platform expands,” said John Whoriskey, Vice President and General Manager of the Keurig At Home Division.
“Our partnership with Keurig and the strength of the Cuisinart brand in the home coffee brewing category will enable us to enter one of the fastest growing segments of the small appliance marketplace,” said Jill Kreutzer Orent, Vice President of Marketing for Cuisinart. “Keurig Brewed technology represents a perfect fit with what our consumers are looking for in a Cuisinart single-cup coffeemaker. We see this licensing agreement with Keurig as a significant growth opportunity for our company.”
Under the terms of the agreement, Conair will develop single-cup coffeemakers designed to work with Keurig’s patented K-Cup portion packs and utilizing patented brewer technology. The Keurig Brewed system offers optimal brewing by delivering the proper amount, temperature and pressure of water to ensure perfect coffee extraction every time. The result is a better tasting cup of coffee, tea or hot cocoa.
Other terms and conditions of the licensing agreement were not disclosed.
About Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) and Keurig
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 ® , Green Mountain Coffee ® and Newman’s Own ® Organics coffee. The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup ® portion packs for Keurig ® Single-Cup Brewers are produced by a variety of licensed roasters, including Green Mountain Coffee and Tully’s Coffee. Keurig's proprietary brewing system combines a pressurized hot water brewer with multiple varieties of K-Cup portion packs, which feature a patented design that preserves the freshness of gourmet coffee and tea. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certified™ coffee, and donating at least five percent of its pre-tax profits to social and environmental projects. Visit www.GreenMountainCoffee.com : and www.Keurig.com : for more information.
About Conair Corporation
Cuisinart is a division of the Conair Corporation. Conair began in 1959 as a small hair appliance and hair care company. Today Conair is a multinational corporation with annual gross sales of $2 billion. Conair is one of the largest manufacturers and distributors of personal care and professional products, grooming, health and beauty products, and premium kitchen electrics and cookware. Conair products currently sell in 100 countries on five out of seven continents. For more information about Conair Corporation, please log onto www.conair.com : .
Cuisinart, universally known for introducing the food processor in America, is a leader in culinary appliances, professional quality cookware and kitchen accessories. The company’s cutting edge reputation can be seen on numerous fronts, from industry-first products and design awards to sponsorships of culinary events and TV cooking shows.
Cuisinart manufactures a full range of products under the tagline, “Savor the Good Life®.” These products include cookware, countertop cooking appliances, blenders, stand mixers and coffeemakers, as well as food processors, toasters and toaster ovens, ice cream makers and waffle makers. Cuisinart’s websites are: www.cuisinart.com : , www.cuisinart.com/baby : and www.cuisinartstandmixer.com : .
Forward-Looking Statements (NASDAQ: GMCR)
Certain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee and any other increases in costs including fuel, Keurig’s ability to continue to grow and build profits with its roaster partners in the at home market, the Company’s success in efficiently and effectively integrating Tully’s wholesale operations and capacity into its Specialty Coffee business unit, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC.
Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.
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Posted by Jay Brewer at June 18, 2009 8:26 AM