CLR Roasters Inks 5 Year Distribution Deal for the Sale of its Espresso Brands into the Country of Panama
Estimated Annual Revenue of $2 Million Per Year
MIAMI, June 18, 2020 /PRNewswire/ -- Youngevity International, Inc. (Nasdaq: YGYI), a multi-channel lifestyle company operating in three distinct business segments, including a commercial coffee enterprise and commercial hemp production today announced that its wholly-owned subsidiary CLR Roasters has signed a 5 year contract with H&H Coffee Group Export Corp.to sell CLR's espresso brands, Café La Rica and Café Cachita into Panama. Terms are C.O.D. and F.O.B. Miami, with the initial order of approximately 60,000 units of Café Cachita Espresso bricks expected to ship this week, and a second order of the brand Café La Rica of the same amount planned within 14 days thereafter.
The distribution relationship establishes minimum order quantities of 40-foot containers per order and is expected to result in annual revenue of approximately $2,000,000.
"Expanding the distribution of our company owned brands remains a high priority and we are pleased to continue to expand our international footprint," said Dave Briskie, President and CFO of parent company Youngevity International, Inc.
Ernesto Aguila, the President of CLR Roasters stated, "Our strategy of building two strong brands side by side at retail has made a very large step forward. We are focused on expanding the distribution of Café La Rica and Café Cachita throughout Latin America."
Alain Hernandez, President of H&H Coffee Group Export Corp stated, "The goal is for the strength of Café Cachita and Café La Rica brands being displayed side by side across retailers in Panama in order to help drive opportunities in other Latin American countries where espresso is the coffee of choice."
About CLR Roasters
Youngevity's coffee manufacturing division, CLR Roasters, was established in 2001 and is a wholly-owned subsidiary. CLR Roasters is a full-sized coffee roaster that produces gourmet coffees under its own boutique brands — Café La Rica®, Josie's Java House®, and Javalution®; manufactures a variety of private labels for major national chains; and for the direct selling channel under Youngevity International. The company remains one of the largest suppliers in North America to the cruise line industry. CLR was the first entrant into the fortified coffee niche with its Youngevity JavaFit® brand. In May 2014, CLR acquired a coffee plantation and processing facility in Nicaragua, allowing the entity to control coffee production and quality — from field to cup.
About Youngevity International
Youngevity International, Inc. ( NASDAQ : YGYI ), is an multi-channel lifestyle company operating in 3 distinct business segments including a commercial coffee enterprise, a commercial hemp enterprise, and a multi-vertical omni direct selling enterprise. The Company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity, YGYI offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewellery, as well as innovative services. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the initial order of Café Cachita Espresso Bricks shipping this week, second order following within 14 days thereafter, resulting in annual revenue of approximately $2,000,000 and driving other opportunities in other Latin American countries. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to ship espresso coffee under the contract as planned, our ability to expand and continue our coffee segment growth, our ability to drive further awareness of our Café La Rica and Café Cachita Brands and continue to expand international footprint in Latin America, our ability to continue our hemp segment growth, our ability to continue our international growth in our direct selling and hemp segments, our ability to leverage our platform and global infrastructure to drive organic growth, our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, our ability to complete our Annual Report on Form 10-K for the year ended December 31, 2018 our ability to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers our ability to continue our financial performance and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
All product names referenced herein are trademarks of their respective companies.
Contacts:
Youngevity International, Inc.
Dave Briskie
President and Chief Financial Officer
1 800 982 3189 X6500
Investor Relations
YGYI investor relations
[email protected]
SOURCE Youngevity International, Inc.
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