Youngevity Subsidiary CLR Roasters Extends Supply Agreement with Save Mart Into 2022
Javalution Hemp Coffee Helps Drive 54% First Quarter Revenue Increase to Save Mart Supermarkets
MIAMI, April 13, 2020 /PRNewswire/ -- Youngevity International, Inc. (Nasdaq: YGYI), a multi-channel lifestyle company operating in three distinct business segments, including commercial coffee and commercial hemp enterprises announced that it has extended its coffee supply contract with Save Mart Supermarkets through January of 2022. The agreement includes Save Mart's private label brands and CLR Roaster's company owned Javalution Hemp Coffee Brand.
Save Mart Supermarkets operates approximately 207 stores predominantly located in California and offers a number of store brands including Full Circle organic packaged foods and Pacific Coast Café coffee to name a few.
CLR Roasters has recently shipped all 4 Javalution K-cup items throughout Save Mart's retail footprint, including House Blend, Donut Shop Blend, French Vanilla, and Dark Roast. The initial store set was approximately 100,000 K-Cups.
"We are very proud to be expanding our relationship with Save Mart and look forward to supporting the apparent increased demand as more of Save Mart's guests drink their coffee at home during these challenging times," stated Ernesto Aguila, President and Founder of CLR Roasters. He continued, "We are pleased to be able to ship our own brands alongside the prestigious Save Mart brands."
Dave Briskie, President and CFO of YGYI, the parent company that owns CLR Roasters, stated, "We are experiencing the challenges facing the cruise line industry as well as weakness in our on premise business, however, the strength of our retail business is helping to offset these challenges inside our coffee business." Mr. Briskie continued, "We are fortunate to participate in the growing demand at retail and we are pleased to be able to leverage this strength to create awareness of our Javalution Hemp Coffee."
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 supporting the apparent increased retail demand for coffee 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 increase our retail coffee business, including through our coffee supply contract with Save Mart Supermarkets , our ability to continue our coffee segment and hemp segment growth, our ability to continue our international growth, 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 continue to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, 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
800.504.8650
[email protected]
SOURCE Youngevity International, Inc.
Share this article