/regional brands that help augment consumer demand for the Keurig Single Cup Brewing systems. To expand the demographic reach of the Keurig Single Cup Brewing system, the company expanded distribution to multiple channels, entered into license agreements with Breville PTY Limited, Jarden Consumer Solutions, producer of Mr. Coffee brand coffeemakers, and Conair Corporation, producer of Cuisinart brand coffeemakers, under which each produce, market and sell coffeemakers co-branded with Keurig, and implemented a tiered brand and pricing structure to provide options for brand conscious and/or value-oriented consumers. Competition In coffeemakers, the company competes against all sellers of coffeemakers, including companies that produce traditional pot-brewed coffeemakers and other single serve manufacturers, which include Bunn-O-Matic Corporation; Mars, Inc. (through its FLAVIA unit); Conair, Inc.; Hamilton Beach/Proctor-Silex, Inc.; Jarden Corporation; Nestle S.A. (including its Dolce-Gusto and Nespresso brewing systems); Phillips Electronics NV (including its SENSEO brewing system); Robert Bosch GmbH (including its TASSIMO brewing system); Stanley Black & Decker, Inc.; Starbucks Corporation (including its Verismo brewing system); and Whirlpool Corporation. Research and Development For the year ended September 28, 2013, the company’s research and development costs included $57.7 million. Intellectual Property The company owns various United States trademarks and service marks that have been registered with the United States Patent and Trademark Office. It also owns other trademarks and service marks for which it has applications for U.S. registration. The company has further registered or applied for registration of certain of its trademarks and service marks in the United Kingdom, the European Union, Canada, Japan, the People's Republic of China, South Korea, Taiwan, and other foreign countries. The company holds U.S. patents and international patents related to its Keurig brewing and portion pack technology. It owns patents that cover significant aspects of its products. The company has additional pending patent applications associated with certain elements of K-Cup pack technology which, if ultimately issued as patents, would extend coverage over all or some portion of K-Cup packs, and have expiration dates extending to 2023. Certain elements of the Vue packs are covered by patents which expire in 2021 and by others that are still pending. Seasonality The company’s business is subject to seasonal fluctuations, including fluctuations resulting from the holiday season. As a result, total inventory, and specifically, brewers and accessories finished goods inventory is considerably higher during the last fiscal quarter (year ended September 28, 2013) than other quarters during the fiscal year, as it prepares for the holiday season. Due to the shift in product mix toward brewers and accessories in the first quarter of the company’s fiscal year, gross margin, as a percentage of net sales, is typically lower in the first fiscal quarter than in the remainder of the fiscal year. History Green Mountain Coffee Roasters, Inc. was founded in 1981.
keurig green mountain inc
33 Coffee Lane
Waterbury, VT 05676
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