The Keurig coffee K-Cup brand, which has operations in Massachusetts, is introducing a system that will brew single-serve espressos, cappuccinos, and lattes in collaboration with Luigi Lavazza SpA, known for its Lavazza Italian coffee brand.
The announcement was made by Lavazza and Green Mountain Coffee Roasters Inc., Keurig’s Vermont-based parent company.
K-Cups, which produce one cup of coffee at a time in Green Mountain’s Keurig brewers, are the most profitable segment of the Green Mountain’s business, accounting for roughly three-quarters of its net sales. But Green Mountain’s stock shares have been mostly falling over the last several months, partly on fears of competition in the single-serve market from much larger rivals such as Starbucks Corp.
In any case, Green Mountain took the occasion of National Cappuccino Day, which is today, to announce the introduction of the Keurig Rivo Cappuccino and Latte System. In a press release, Green Mountain said that the new system marks its entrance into the espresso, cappuccino, and latte brewer category.
The Rivo System will be sold exclusively at select Bloomingdales’ locations beginning in mid-November; it is expected to become more widely available by the spring, Green Mountain said in a press release. The suggested retail price for the system is $229.99.
In a statement, Keurig president Michelle Stacy said, “Where our K-Cup and Vue systems are changing the way people brew filtered coffee, Rivo is set to change both how and where people brew and enjoy their espresso and espresso-based beverages.’’
Founded in 1998, Keurig is a wholly owned subsidiary of Vermont-based Green Mountain, which acquired the firm in 2006. Keurig manufactures single-cup brewing systems, which combine a pressurized hot-water brewer with K-Cup and Vue packs of gourmet coffee, tea, hot chocolate, and other specialty beverages.
Keurig recently announced plans to relocate some of its Massachusetts operations to Burlington, with the first phase of the move set to begin in January.
The newly leased location will provide the increased square footage required to support the company’s expanding innovation efforts and new product development capabilities, Keurig said.
As of June, the company was leasing 155,000 square feet of space in Reading, Wakefield, and Woburn, a Globe story noted.