Youngevity International, Inc. (YGYI), a leading omni-direct lifestyle company, and a large West Coast grocery chain with over $4.5B in annual sales signed a private label contract with CLR Roasters to produce, bulk coffee, single serve cups, whole bean, and ground coffee retail bags for their 230 traditional and price impact stores. CLR Roasters is also expected to be providing them with a full bulk program, meaning they will supply whole bean coffee and service in-store equipment for customers to select and grind their own coffee. The total contract is anticipated to result in $3.6 M of revenue to CLR Roasters over the next two years.
“We’re thrilled to be partnering with this prestigious chain of stores,” said President of CLR Roasters Ernesto Aguila. “This new contract means we’ll be exposing our coffee to millions of coffee lovers and potential customers on the West Coast which represents another growth opportunity as we expand our business in California and Nevada. The first shipments under this contract are anticipated to take place this month and should continue into 2020.”
Based in the heart of the Central Valley, the grocery chain sources a wide variety of local, national, and international products for neighborhoods throughout Northern/Central California and Northern Nevada. The company employs over 14,000 team members and operates 230 traditional and price impact stores under different brands. In addition to its retail operation, the company owns and operates two distribution centers.
About YGYI, Inc.
YGYI, Inc. (YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling 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/jewelry, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. 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 includes statements regarding the continued growth of the Company’s coffee segment, the revenue to be derived from the contract, the timing of performance under the contract, the services to be performed and the potential new customers and growth form the contract. 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 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 add additional products (whether developed internally or through acquisitions), our ability to continue our financial performance, and the other factors discussed in our Annual Report on Form 10-K 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.