- Vermont-based Green Mountain Coffee Roasters Inc. changed its company name to Keurig Green Mountain Inc., effective as of March 10.
- The company will retain its ticker symbol of GMCR on the NASDAQ stock exchange.
- The company explained that the name change reflects that it is, "now an integrated company; a technology company in the beverage business."
Green Mountain Coffee Roasters, Inc. combined with Keurig back in 2006, but it only now wants the company to reflect the two distinct qualities associated with each part of the name. Keurig spells profits for the business--it is the name attached to the machines and all related accessories, which make up over 90% of company revenue. It's also the name that "will be front and center" for global expansion and its ventures into beverages beyond coffee, like the anticipated cold drink machine it intends to bring out with Coke.
At the same time, the company explains that it is not letting go of the Green Mountain name because it represents, "quality, strong community relationships, and socially and environmentally friendly business practices." The idea is to retain the best of both worlds in the brand name: A heritage of value and new directions for greater profitability.