Green Mountain Coffee Roasters changes its name
WATERBURY (AP) - Green Mountain Coffee Roasters Inc. said Monday that it has changed its name to Keurig Green Mountain Inc.
The company, known for its single-serve coffee makers, announced in January that it planned to change its name to reflect its Keurig coffee machines. Shareholders approved the new name last week at an annual meeting.
The company's stock ticker symbol, "GMCR," will not be changed.
"Our new name better reflects who we are as a company today and captures our aspirations for the future," said CEO Brian Kelley, in a statement.
The company is working on a machine for cold drinks called Keurig Cold. The Coca-Cola Co. said in February that it is buying a 10 percent stake in the company for $1.25 billion and will offer its beverage brands for the new machine so that customers can make them at home.
Shares of the company, based in Waterbury, fell $1.20, or 1.1 percent, to $104.80 in afternoon trading Monday. Its shares have almost doubled since a year ago.
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