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 procured several contracts for its strictly high-grown washed Arabica coffee, totaling $3 million dollars for its recently launched green coffee distribution division.
The 100 percent Arabica beans are shade grown and strictly high-grown coffees from Nicaragua and are expected to begin shipping in August 2014 from CLR Roasters recently acquired green coffee processing plant located in Matagalpa, Nicaragua and continue through October 2014 in 50 container loads of green coffee.
“This new $3 million dollar green coffee contract comes on the heels of our previously announced $3.5 million green coffee contract upon the launch of this program. The newly started green coffee sales division is showing strong sales potential and it has been a great addition to CLR thus far,” said Ernesto Aguila, President of CLR Roasters.
Dave Briskie, Youngevity’s CFO and President of Commercial Development said, “Since the acquisition of the coffee plantation and processing plant in Nicaragua we have invested over $700,000 in new equipment, plant upgrades and improvements on the plantation. We now can process 30 million pounds of green coffee at our processing plant on an annual basis. We are proud of the strategic investments we have made to grow our coffee division and excited about the revenue generation potential for our green coffee sales division.”
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. The forward-looking statements contained in this press release include statements regarding the Company’s expected shipments in August 2014 from the green coffee processing plant in Matagalpa, Nicaragua through October 2014 and the revenue generation potential for its green coffee sales division. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict, including our ability to commence and continue the shipment of the orders from our new green coffee processing plant in Matagalpa, Nicaragua as scheduled and the other factors described in our annual report on Form 10-K for the year ended December 31, 2013 and our other filings with the SEC.. 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.