YGYI, Inc. (YGYI), a leading omni-direct lifestyle company announced that its subsidiary CLR Roasters, has executed a $5,000,000 supply agreement with a multi-billion dollar, Midwest based buying consortium. The agreement covers multiple brands and collectively these brands are expected to be sold at various retail establishments throughout the United States. CLR Roasters, LLC announced that the contract is expected to commence in the third quarter of 2018 and continue into 2020.
“We have been working diligently to increase distribution for our private label business segment and this contract should expand our reach considerably. Our new partnership covers several prestigious brands that will be offered in a number of retailers across the country” said, Ernesto Aguila, President of CLR Roasters, LLC.
The buying consortium is privately held and provides solutions for leading food industry businesses on a national scale, including grocery retailers and wholesaler’s food service companies. The contract includes a variety of retail 12 oz. bags being manufactured in both ground and whole bean roasted coffees consisting of multiple blends depending on the brand.
Dave Briskie, President and CFO of CLR Roaster’s parent company stated, “We anticipate that this contract will push our private label business further into main stream retail and strengthen the roasting side of our coffee business. We expect to continue developing our multi-faceted revenue model consisting of green coffee distribution, private label roasting, and distribution of our Café La Rica Brand, the official Cafecito of Major League baseball’s Miami Marlins, within food service and retail.”
About YGYI, Inc.
YGYI, Inc. (NASDAQ: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. To receive future press releases via email, please visit: https://ygyi.com/investors/email-alerts/
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 our coffee segment and the anticipated benefits to be derived from the contract, including pushing our private label business further into main stream retail and strengthening the roasting side of our coffee business. 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, the ability of the consortium to successfully sell our products in the anticipated retail establishments, 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.
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