Green Mountain Rises After Filing Soda Machine Trademark
Stock Chart for Green Mountain Coffee Roasters Inc (GMCR)
Green Mountain Coffee Roasters Inc. (GMCR) advanced the most in more than two months after filing a U.S. trademark application for a soda machine that could compete with those made by Israel’s SodaStream International Ltd. (SODA)
The shares rose 6.3 percent to $73.19 at the close in New York for the biggest gain since May 9. The maker of Keurig brand single-serve pods and machines has risen 77 percent this year, while the S&P Midcap 400 Index has added 20 percent.
Green Mountain has been trying to combat private-label K-Cup competition with new beverage brewing machines. Earlier this month, it introduced a commercial grade brewing system that can make a 64-ounce pot of coffee. Last year, the Waterbury, Vermont-based company started selling the Rivo brewer that makes cappuccinos and lattes.
The trademark was filed by Green Mountain’s Keurig division on July 3, according to the U.S. Patent and Trademark website. The machine would make still, carbonated and sparkling beverages, as well as soda.
“We are not going to comment on this specific trademark,” Suzanne DuLong, a spokeswoman for Green Mountain, said in an e-mail. “As we continue to grow, we are likely to seek any number of trademarks.”
SodaStream International, based in Airport City, Israel, makes home soda machines sold in the U.S. The shares rose 1.5 percent to $60.39 today and have gained 35 percent this year.
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