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Monday, December 15, 2014

RPT-Green Mountain moves coffee buying to Switzerland, following rivals, (NASDAQ: GMCR)

Vermont-based coffee roaster and brewing technology maker Keurig Green Mountain will move most of its U.S. coffee buying operation to Switzerland, following rivals who have already moved to the global hub for commodities trading.Moving purchasing from Vermont to French-speaking Lausanne, Switzerland, will establish the largest U.S. coffee retailer by value as a "global beverage player", a Green Mountain spokeswoman told Reuters.This fall, Green Mountain formed a new corporate entity in Switzerland, called Keurig Trading GmbH. It expects to move a group of buyers currently in the United States to its new Swiss entity in Spring 2015, the spokeswoman said."The core of our green bean coffee procurement for our global manufacturing operations will take place in Switzerland," said the spokeswoman.

Keurig Green Mountain, Inc., formerly Green Mountain Coffee Roasters, Inc. Shares of GMCR fell by 2.44% or $-3.41/share to $136.28. In the past year, the shares have traded as low as $72.82 and as high as $158.87. On average, 1747810 shares of GMCR exchange hands on a given day and today's volume is recorded at 1246556.