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Green Mountain Corpration history
Green Mountain Corpration company history timeline
At the time, Green Mountain was a small specialty store, begun in 1981, that sold to the public and a few restaurants.
In 1981, a man named Robert Stiller stumbled upon a little known coffee company while on holiday at a Ski Resort in Waitsfield.
1985: Green Mountain Coffee turns a profit.
1986 – GMES decided to stop rewinding and repairing motors and focus their efforts on electrical.
Peyser had been hired by Robert Stiller in 1987, six years after Stiller founded the company.
As Green Mountain Coffee grew it formed an environmental committee in 1989 to guide them on conservation issues that has remained strong within the company until present.
In 1990 Green Mountain introduced Rain Forest Nut flavored coffee to sponsor the cause of rain forest preservation.
In the fiscal year 1991, Green Mountain boasted seven retail outlets, plus a thousand wholesale clients.
The company went public in September 1993 and is listed on the NASDAQ Global Select Market under the stock symbol GMCR.
Green Mountain Coffee Roaster Inc. was officially formed in 1993 and started opening its doors to the public in September of that year.
Serving 2,400 wholesale accounts, Green Mountain had sales of about $10 million in 1993.
In 1994 it joined the national BuyRecycled! Alliance.
Green Mountain began exporting to Canada and Taiwan in 1994.
Sales for 1994 were about $22 million; the company lost nearly $3 million.
The retailer had only been in business since 1994 but already operated the largest specialty coffee stores in the United States: its two locations in New York's World Trade Center served more than 7,500 customers a day.
1994: First exports shipped to Canada and Taiwan.
The company announced an assault on national supermarket chains in June 1996.
By October 1996, Green Mountain Coffee was also being served on more than a hundred Delta Express flights per day.
In 1996 Green Mountain sponsored a study of the comparative economic benefits of traditional shaded coffee growing systems with full-sun systems.
Green Mountain's 1996 income qualified it for the listing.
Poland Spring's sales were $248 million in 1996.
In March 1997, Green Mountain's shares began trading on the Nasdaq National Market System, instead of the SmallCap Market System and the Boston Stock Exchange.
Green Mountain struck a deal with office supplies discounter Staples Inc. in May 1997.
In 1997 the growing company licensed PeopleSoft software for manufacturing and accounting applications.
Our founders were a tight-knit family of flannel-wearing, sandal-footed, long-haired, tree-huggers. It all started in central Vermont back in 1997.
In April 1998, as one of its Earth Day tie-ins, the company introduced 'bird-friendly' coffees grown without synthetic fertilizers or pesticides.
With wholesale trade booming, Green Mountain announced plans to leave retail entirely in May 1998.
In September 1998, Green Mountain had begun buying back about $500,000 of its shares, feeling they were undervalued.
Green Mountain distributed its first corporate gifts catalog in the fall of 1998.
In late 1998, Mobil Corporation's On the Run shops became the first national convenience store chain to offer certified organic coffee.
1998 – Opened a branch in St Johnsbury, VT.
Green Mountain Coffee Roasters, Inc.'s 5,000 wholesale customers--grocery stores, conveniences stores, restaurants, and places of work&mdashe located mostly in the Northeast, but sales territories extend to Arizona and Florida. It also has invested in an online store, while closing or selling its retail stores in 1998.
The first debuted in Glasgow in September 1999.
International Expansion in 1999
About 70 percent of coffee was purchased in supermarkets, making this segment a key priority for future growth, as Stiller reported to shareholders in 1999.
Green Mountain aimed to have 30 percent of its 5,000 resellers order online by 2000.
2001 – Acquired Choinere Electric to open a branch in St Albans, VT
In October 2002, Green Mountain signed an agreement to sell fair trade coffee under the Newman’s Own Organics label.
2004 – Acquired Burgess Electrical Supply to open a branch in Burlington, VT.
In 2006, the company acquired Keurig, Incorporated, a manufacturer of single-cup brewing systems.
Their 2007 annual report stated a net income of less than $13 million.
2008 – Acquired Glens Falls Electric Supply to open a branch in Queensbury, NY.
Back in 2009, Keurig’s last public report of K-Cup sales showed that over 1.6 billion “portion packs” had been shipped.
2009 – Opened a branch in West Lebanon, NH.
On September 14, 2010, Green Mountain bought Quebec-based coffee services company Van Houtte for $915 million.
On September 28, 2010, the company’s stock rose to an all-time high, but the company disclosed after the markets closed that the Securities and Exchange Commission has requested documents and data from Green Mountain Coffee Roasters related to an inquiry into how it accounts for revenue.
2010 – Acquired Valley Electric Supply to open a branch in Middlebury, VT.
On March 10, 2011, Green Mountain Coffee and Starbucks announced a deal whereby Starbucks would sell its coffee in single-serve pods for brewing with Green Mountain’s Keurig machines.
Green Mountain Coffee Roasters then sold the “Filterfresh” US coffee service portion of Van Houtte’s business to Aramark on August, 29th 2011 for $145 million.
Green Mountain announced a similar agreement with Dunkin’ Donuts in September 2011.
In 2011, Stiller was declared a billionaire by Forbes.
2011 – Started a renewable energies division, focusing on photovoltaic solar sales.
Keurig Green Mountain held the patent for K-Cups until 2012.
By 2013, net income had multiplied 37 times over to more than $483 million.
2013 – Opened a branch in Derry, NH.
The company’s stock price eventually recovered and hit an all-time high of $177 per share in late 2014, but of course Stiller wasn’t invited back.
It is widely estimated that enough K-Cups were dumped in landfills in 2014 to circle the globe 10.5 times.
2014 – Opened a branch in Plattsburgh, NY.
But by June 2015, when he spoke to the Burlington Free Press, Peyser said the 5 percent commitment had quietly gone away.
As Burlington Free Press columnist Art Woolf wrote in 2015, Green Mountain Coffee Roasters started out as a small coffee shop in Waitsfield that was "so good, and so different from what most Americans drank at the time," that Robert Stiller bought the company.
"K-Cups generate more waste per cup, including plastic, than the technology it replaced — old-fashioned grounds in a paper filter," Woolf wrote in 2015.
Nevertheless, it was the K-Cup that propelled Green Mountain Coffee to provide good jobs for some 2,000 Vermonters in 2015, when Woolf was writing his column.
By June 2016, Keurig Green Mountain had pulled the plug on Keurig Kold, cutting 108 jobs in Vermont.
The combined company had about $11 billion in annual sales, which still made it smaller than soda makers PepsiCo Inc. and Coca-Cola Co., which had 2016 sales of $63 billion and $41 billion, respectively.
2016 – Acquired Red Hook Electric Supply to open a branch in Red Hook, NY
2017 – Opened a branch in Keene, NH.
The merger with Dr Pepper Snapple Group was announced in January 2018, returning the company to the public sphere.
In 2020, Keurig Dr Pepper generated $11.62 billion in annual sales, while PepsiCo Inc. generated $70.37 billion in sales and Coca-Cola Co. generated $33 billion in sales.
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