"Keurig® Single Cup Brewing Systems
are transforming the way U.S. and Canadian consumers brew and enjoy
their coffee, and our entire team is proud to be involved in driving this
major shift in Canadians' consumption habits."
Sylvain Toutant, President, GMCR Canada
MONTREAL, June 7, 2013 /CNW Telbec/ - GMCR Canada Holding Inc. (GMCR Canada), a subsidiary of Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), announced today it plans to invest CAN$55 million in its existing Saint-Michel facilities to create a true Quartier du café in Montreal. The announcement was made at the company's Canadian principle office with Quebec Premier Pauline Marois, Minister for Industrial Policy and the Banque de développement économique du Québec Élaine Zakaïb, Villeray-Saint-Michel-Parc-Extension Borough Mayor Anie Samson, and GMCR Canada President Sylvain Toutant in attendance.
"We're very pleased to announce this investment in our Montreal facilities, which will protect current jobs and create new ones as we modernize our beverage production capabilities in Canada. This project is meaningful because it will be vital to improving the effectiveness of our operations in the city. GMCR is focused on driving innovation in the beverage category, and our Montreal campus will be a key contributor to those efforts over the long-term," said Sylvain Toutant, President of GMCR Canada.
By modernizing and expanding its Montreal plant, GMCR Canada will be able to increase and diversify its production capacity over the coming years and remain a prime manufacturing hub in GMCR's North American network. More specifically, this investment will allow the company to upgrade its roasting facilities, add new high performance packaging lines, renovate its green coffee infrastructure, and expand its traditional production portfolio to include new beverages for GMCR's Keurig® brewers. "The Keurig® Single Cup Brewing System is transforming the way U.S. and Canadian consumers brew and enjoy their coffee, and our entire team is proud to be involved in driving this major shift in Canadians' consumption habits," stressed Toutant.
GMCR Canada plans to invest $55 million over the next 3 years in support of the campus expansion. A part of the investment will be provided by the Government of Quebec, which has approved a $5 million non-repayable financial contribution to the company for this upgrade project.
"I want to stress the valuable support and financial contribution offered by the Government of Quebec, which immediately saw the value of this project and how important it is for Saint-Michel, for Montreal, and for all of Quebec. I wish to thank all the government officials who helped make this investment possible," added Toutant.
This project is expected to raise the number of jobs in GMCR Canada's Quartier du café in Montreal by 180 over the next 3 years. GMCR Canada currently employs more than 1,700 employees in total combined in Canada. "At GMCR Canada, our employees are one of our greatest sources of pride. We are very excited to be able to create new, quality jobs and to continue to develop the expertise of our team here in Montreal. I'd like to take this opportunity to thank all our employees for their dedication. This project would not have been possible without their contribution," concluded Toutant.
About GMCR Canada Holding Inc.
GMCR Canada Holding Inc. (GMCR Canada) is the Canadian business unit of Green Mountain Coffee Roasters, Inc. The company's Canadian principle office and management team are located in Montreal, and it has three roasting plants in Canada—two in Montreal and one in Toronto.
The company offers a wide range of premium coffees in a variety of formats. GMCR Canada also offers Keurig® Single Cup Brewers and many beverages for use in the brewer. Consumers can enjoy GMCR Canada products whether they are at home, at work, in a café-bistro and in other selling points. GMCR Canada markets flagship brands such as Keurig®, Van Houtte®, Timothy's World Coffee®, Barista Prima Coffeehouse®, as well as Green Mountain Coffee®, Tully's® and Café Escapes® to highlight a few.
In addition to being one of the leaders of the Canadian coffee marketplace, GMCR Canada is also a leader in sustainable development thanks to its programs supporting coffee communities and local communities, and its initiatives to reduce its environmental footprint.
Certain information contained in this filing, including statements concerning expected performance such as those relating to net sales, earnings, cost savings, acquisitions and brand marketing support, are "forward-looking statements". 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, organizational efficiencies, 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 acquisition and integration of new businesses, fluctuations in the cost and availability of raw and packaging materials, successful execution of internal changes to the organizational and leadership structures, 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 our filings with the SEC.
Actual results could differ materially from those projected in the forward-looking statements. We undertake 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.
SOURCE: GMCR Canada
For further information:
Senior Manager, Workplace Excellence and Communication
Holding GMCR Canada Inc.
T: 514-789-4535 | 1-877-593-7722 #7894535
Investors and US media:
VP of Investor Relations and Corporate Communications
Green Mountain Coffee Roasters, Inc.
T: 802-488-2600/[email protected]