ROCKLIN, Calif., Jan. 22, 2004 (PRIMEZONE) -- Peabodys Coffee, Inc. (OTCBB:PBDY), a retailer and marketer of the USDA certified organic brand Black Rhino Coffee(tm), announced today that the BI-LO supermarket chain, headquartered in Mauldin, SC, has ordered ground Black Rhino Coffee(tm) for up to 300 of its supermarkets in the Carolinas, Georgia and Tennessee.
"With the recent success we have experienced since introducing our ground Black Rhino Coffee(tm) to the market, this represents a major step in building our packaged coffee revenues and our brand identity," stated Peabodys President and CEO Todd Tkachuk. "Clearly, consumer demand for ground coffee is significantly larger than it is for whole bean - in fact, we believe the ground coffee market opportunity could be as much as ten times larger."
Tkachuk said BI-LO customers should see all three Black Rhino Coffee(tm) ground varietals of French Roast, Spiritu Blend(tm), and Alma Blend(tm) in their new packaging on the shelf in early February.
According to Packaged Facts, organic food sales totaled $11 billion in 2002 and continue to show an annual growth rate equal to 20% or more annually. This growth is fueled, in part, due to increased distribution via traditional grocery outlets. In fact, the USDA reports that as of 1999, conventional food stores began outselling natural products supermarkets in several key categories.
"We still believe that the opportunity exists for an organic coffee brand to emerge as a market leader and our objective remains consistent - to be that brand," added Tkachuk. "There is a lot of fresh interest in our Black Rhino Coffee(tm) brand now that we have our ground version and new packaging available, as evidenced by several new appointments we have in the near future with various supermarket category managers. We have high expectations that 2004 will be a big year for market penetration with the Black Rhino brand."
About Peabodys Coffee:
Peabodys has developed the Black Rhino Coffee(tm) brand for marketing packaged certified organic coffee in retail markets. Currently, Black Rhino Coffee(tm) is on the shelf of 500-600 supermarkets that are serviced by BI-LO in South Carolina, and SuperValu (NYSE:SVU) in Virginia and Pennsylvania. With organic coffee being one of the fastest growing segments of the specialty coffee market, Black Rhino Coffee(tm) has uniquely positioned itself in the high growth natural foods category. Its three hand-roasted blends -- Alma, Spiritu and French Roast -- are grown chemical-free under strict, totally natural conditions. All Black Rhino Coffee(tm) is independently certified under the United States Department of Agriculture's National Organic Program.
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