Great news! but does the stock move? not at all, nothing will move this stock upward. Incredible. no ones even on this board, I guess I am the bag holder! dammit! GLTA
Youngevity International Announces Expansion of Coffee Business in South Florida
Mon August 1, 2016 8:30 AM|Marketwire | About: YGYI
SAN DIEGO, CA -- (Marketwired) -- 08/01/16 -- Youngevity International, Inc (YGYI). (OTCQX: YGYI) (www.YGYI.com), a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced today that its wholly owned subsidiary, CLR Roasters, has entered a three year agreement with Bread Partners Inc to provide 18 Au Bon Pain locations, an internationally recognized leader in the fast-casual restaurant category, with CLR Roasters strictly high-grown, washed, Arabica coffee and Organic coffees, which are grown on CLR's wholly owned Siles Family Plantation Group's properties in Nicaragua. The restaurants are located in South Florida. The agreement provides that Au Bon Pain will sell Café La Rica, the Company's unique espresso brand, which is designed to create a captivating aroma and bold flavor that is true to the authentic Cuban coffee roasting tradition.
At the same time, Youngevity is also announcing that CLR Roasters will support the launch of its growing Food Service Division in the South Florida market by deploying 3 Company owned and branded coffee trucks. In addition, to supporting its expansion in South Florida, CLR Roasters has made an initial purchase of 100 espresso machines and milk dispensers, representing an initial investment of over $250,000. The trucks offer delivery and installation support to select areas in South Florida and are expected to expedite coffee delivery to the Company's commercial customers.
Ernesto Aguila, President of CLR Roasters, stated, "The unique flavors of our coffees, specifically Café La Rica, has been embraced by many specialty coffee drinkers. We have found that there is a great affinity for Café La Rica by the Hispanic Community since Café La Rica has been blended in the authentic Cuban coffee tradition. Hispanics represent over 70 percent of Miami's (South Florida) population, with Cuban Americans still comprising over 50% of Miami's population. The Hispanic community continues to grow. After extensive market research, we decided to bring our first class line of coffee to this market in restaurants and cafeterias. Bread Partners Inc has indicated that its Au Bon Pain locations are experiencing growth in coffee sales in those restaurants which are currently serving our coffees. Coffee drinkers in South Florida have access to our products at various retailers and a growing number of restaurants and cafes. Café La Rica espresso and CLR's other brands are roasted in our Miami plant allowing for the freshest possible, high quality coffee."
Dave Briskie, President and CFO of Youngevity stated, "As a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, our coffee is sourced from our properties in Nicaragua and our coffees are Fair Trade, Organic, Rainforest and Bird Friendly, as well as UTZ certified. This allows us to bring our coffees from Central America with a unique value proposition. Working with Ernesto and his team, we have decided to greatly expand our marketing in the South Florida market, while we simultaneously supply coffee into commercial and retails channels in 25 other U.S. States. By producing quality gourmet coffees and having the capacity to bring the rich flavor directly to a growing group of cultivated consumers, we know we have great potential to expand our growing customer base."
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