ROSEVILLE, Calif., Aug. 12, 2004 (PRIMEZONE) -- Peabodys Coffee, Inc. (OTCBB:PBDY), owner of the USDA certified organic brand Black Rhino Coffee(tm), announced today plans to launch an aggressive growth campaign that will double its US supermarket distribution to not less than 2000 supermarkets by the end of the company's current fiscal year.
"We've reached some important milestones with this brand," explained Todd Tkachuk, President & CEO of Peabodys, "and it is important that we don't just keep up the momentum -- but that we increase it. This goal effectively doubles our US base -- but we now have procurement, logistics and brand management acts in place to support this level of ambition. Our broker network has identified the first 600 targeted locations, and we are confident our current success rates will continue -- but just come faster."
According to Packaged Facts, organic food sales totaled $11 billion in 2002 and continue to show a growth rate equal to 20% or more annually. This growth is fueled, in part, due to increased distribution via traditional grocery outlets. The USDA reports that as of 1999, conventional food stores began outselling natural products supermarkets in several key categories.
Peabodys Coffee, Inc. 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 supermarkets serviced by BI-LO, Ingles (Nasdaq:IMKTA), Wal-Mart (NYSE:WMT), and SuperValu (NYSE:SVU). 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 hand-roasted blends 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.
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future business, revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to further develop its business, the company's ability to generate revenues, develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's services, competitive factors, new products and technological changes, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's periodic reports filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.