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
investors@ygyi.com
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SOURCE Youngevity International, Inc.