Green Mountain Coffee Roasters has officially changed its name to Keurig Green Mountain, Inc.
Packaging labels won’t change, and the Vermont-based corporation will maintain its “GMCR” ticker symbol on the NASDAQ stock exchange. The new identity is for the corporate brand.
“Our new name better reflects who we are as a Company today and captures our aspirations for the future,” President and CEO Brian Kelley said in a press release. Kelly left Coca-Cola Refreshments in December 2012 to lead GMCR, following the retirement of Lawrence Blanford.
Shareholders approved the corporate rebranding at a meeting in early March.
Founded in Waitsfield in 1981, the company began investing in Keurig in 1993 — the same year GMCR went public. Its acquisition of the single-serve brewing technology was finalized in 2006.
The company’s stock value has skyrocketed since then — from the $2 to $3 range in 2006 to more than $100 today, even closing as high as $123.74 one day in February.
Part of that growth came from a spike in trading when GMCR and Coca-Cola announced the soft drink giant would invest about $1.25 billion in the coffee company to gain an edge in the global market for single-serve cold beverages.
The same month, GMCR announced a partnership to offer Krispy Kreme brand coffee to K-Cup packs. Last fall, the company also partnered with Campbell’s Soup Co. to expand the Keurig system’s product offering.
