SAN DIEGO--(BUSINESS WIRE)--Youngevity International, Inc. (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 acquired a coffee plantation and a processing facility in Nicaragua. CLR Roasters has completed its plan to be completely vertical and now should be able to control the coffee production process from harvest to cup to achieve its goal of ensuring consistent supply and the highest-quality coffee possible.
The company has a second planation under contract that will double the size of CLR’s holdings and anticipates closing in the near future. The plantations are situated in an ideal coffee-growing region located near Matagalpa, Nicaragua, which is historically known for the production of high-quality coffee. Each plantation is approximately 450-acres and produces 100 percent Arabica coffee beans that are shade grown, Rainforest Alliance Certified™, and Fair Trade Certified™. Youngevity Be the Change Foundation has committed to opening a school and a day care facility in support of its 160 families and seasonal workers that live and work on the plantation. During the harvest it is expected that up to 800 workers will be working on the plantation.
In October of 2013 CLR Roasters announced a sourcing and supply agreement with the Siles Plantation Family Group. The company has expanded its relationship with Siles Plantation Family Group whereby CLR intends to utilize their expertise in the day to day operations of the plantations and the processing plant. “This is a great achievement and collaboration for the Siles Plantation Family Group and our partners Youngevity, their Foundation, and CLR Roasters. We are excited to be a part of this amazing project, and we are committed to accomplishing great things here in Nicaragua and around the world,” stated Marisol Siles, President of Siles Plantation Family Group.
“We are very proud to acquire this Rainforest Alliance Certified™ farm, which we expect will allow us to grow our coffee business and take our Company to new heights,” said Ernesto Aguila, President of CLR Roasters. “We are confident that this investment should strengthen our capacity to better control quality, improve yields, reduce costs and establish CLR Roasters as a premiere source for exceptional high-quality coffee.”
Financing for the project was provided by the company’s cash reserves along with common stock in an amount up to 1,000,000 shares from the personal holdings of Steve Wallach, Youngevity’s Chief Executive Officer.
Dave Briskie, Youngevity’s CFO and President of Commercial Development said, “We are enthusiastic about acquiring the coffee plantations that should allow us to control the entire coffee process from field to cup. Our processing facility has the capacity to allow us to handle over 30 million pounds of green coffee and we expect to use this capacity to launch a green coffee sales and distribution platform within CLR Roasters. Through our Youngevity Be the Change Foundation we will work with the coffee farmers and their families to improve their livelihoods and the health and well-being of their community.”
About Youngevity International, Inc.
Youngevity International Inc., (OTCQX: YGYI) (www.YGYI.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a "network of networks." The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels. The Company was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com) and Javalution Coffee Company in the summer of 2011. The company was formerly known as AL International, Inc. and changed its name to Youngevity International Inc. in July 2013.
About CLR Roasters
CLR Roasters (www.clrroasters.com) was established in 2001 and is a wholly-owned a subsidiary of Youngevity International. CLR Roasters produces coffees under its own boutique brands as well as manufactures a variety of private labels through various tiers of distribution. Industries served include grocery, retail, wholesalers, hospitality, cruise lines, wellness facilities, office coffee service, and convenience store distribution. It also produces a unique line of coffees with health benefits under the JavaFit® brand.
Safe Harbor Statement
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," “encouraged” and similar expressions. These statements are based upon current beliefs, expectations and assumptions and include statements regarding the expected role of the Siles Plantation Family Group, our ability to meet our goals, the benefits to be derived from the plantation and the additional capacity from the plantation. The statements are subject to a number of risks and uncertainties, many of which are difficult to predict such as the future contribution of the relationship with the Siles Plantation Family Group, our ability to achieve our goals and successfully operate the plantation and the other risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2013 and our other filings with the Securities and Exchange Commission. 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 based on new information, future events, or otherwise, except as required by law.