High Performance Beverages Signs MOU to Create Joint Venture With Jammin Java for New Line of Cold Coffee BeveragesFont size: A | A | A
5:00 AM ET 4/27/17 | Marketwired
CAVE CREEK, AZ--(Marketwired - Apr 27, 2017) - High Performance Beverage Co. (OTC PINK: TBEV) (the "Company") is pleased to announce it has signed a Memorandum of Understanding (MOU) with Jammin Java Corp. (d/b/a Marley Coffee) (OTCQB: JAMN), in order to create a joint venture partnership for the development of a new line of cold coffee beverages.
Based in Denver, CO. Jammin Java plans to move into new areas of cold coffee products with the help of High Performance Beverage in order to establish itself in the multi-billion dollar retail coffee industry.
Bloomberg news reported canned and bottled ready-to-drink coffee is a natural evolution flowing from a consumer landscape awash with premium coffee at ubiquitous Starbucks and countless independent coffee bistros. Millennials, who account for 44% of U.S. coffee demand, have been helping the U.S. ready-to-drink coffee market grow by double digits every year since 2011.
Mintel reported Millennials are driving the cold coffee revolution with 66% drinking ice coffee or cold coffee beverages. Cold coffee has also been instrumental in attracting younger coffee drinkers since the beverage lacks the bitterness sometimes associated with hot brewed coffee. As trends continue, many opportunities are being created in this wide open market.
Euromonitor International expects the market to reach nearly $3.6 billion by 2020. The overall global market stood at $18 billion in 2015, according to Euromonitor.
New product lines to be developed by High Performance Beverage and Jammin Java are:
Cannabis Coffee for the Colorado markets, including THC and CBD based coffees
Sugar Free and Low Calorie Canned and Bottled Cold Coffee products for U.S. national distribution
Coffee Energy Drinks including full fat and sugar along with low calorie varieties.
Chris Plant, CEO of Jammin Java, stated, "We are excited to work with High Performance Beverages in the development of a new line of cold coffee beverages. This new line will be significant as we transition from traditional coffee roasters to the cold coffee drink market. Because we are an already established coffee company, we will have several distinct advantages in the marketplace, as we introduce our new line of coffee beverages, some of which will be first to market. Developing a premium taste associated with our brand will be our main priority."
Toby McBride, CEO of High Performance Beverage Co., stated, "We are extremely pleased to be working with Jammin Java and their management team. We have identified a variety of first to market products that we are confident will succeed in the ever growing multi-billion dollar coffee market. He also stated, "The fact that Jammin Java is already a well established coffee company that is located in Colorado reaps multiple benefits and competitive advantages in the areas of THC and CDB coffee drinks. We are extremely confident that Jammin Java will be able to have a significant impact on the Colorado market before entering additional states that are legally permitted."
For more information on Jammin Java: https://jamminjavacorp.wordpress.com/
About High Performance Beverage Company
High Performance Beverage Company has created a new beverage segment under the trade name High Performance Beverages which manufactures and distributes a line of sport performance drinks. High Performance Beverage Company's sport performance drinks are carefully formulated to support mental focus and help increase blood flow, thereby giving the body the necessary fuel to power through a specific event or throughout the day. Our unique blends are designed to bridge the gap between supplements, energy and hydration drinks, ultimately broadening our appeal and providing access to an expanding target market. High Performance beverages are sugar free and extremely low in calories and caffeine. This positioning makes High Performance Beverage Co. sport drinks first to market with a sustainable competitive advantage.
High Performance Beverage Corporate Website: www.bev.highperformancebeverage.com www.hpbev.net
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of High Performance Beverage Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which a