MIAMI, FL, Dec. 13, 2017 (GLOBE NEWSWIRE) -- CLR Roasters, a wholly owned subsidiary of Youngevity International, Inc. (NASDAQ:YGYI) and maker of Café La Rica Espresso, "The Official Cafecito of the Miami Marlins," today announced it has entered into a purchase contract to deliver approximately $10.5 million of green coffee for the 2018 selling season. The commitment is for Naturals coffee grown in Nicaragua.
Steve Wallach, Youngevity's Chief Executive Officer, said, "This new $10.5 million Green Coffee commitment represents our second significant coffee contract entering the 2018 booking season. This commitment combined with the $7.5 million contract announced two weeks ago brings our green coffee bookings to over $18 million going into 2018. Obviously we are optimistic on our prospects for growth of our coffee segment next year."
Ernesto Aguila, President of CLR Roasters, said, "We continue to see strong growth within our green coffee distribution business. This commitment from another one of our green coffee distribution partners represents a 100% increase in volume over 2017. We anticipate adding additional revenue for our green coffee business as we complete the 2018 booking season."
About CLR Roasters
CLR Roasters (www.clrroasters.com) was established in 2001 and is a wholly-owned 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.
About Youngevity International, Inc.
Youngevity International, Inc. (NASDAQ:YGYI ), is a leading omni-direct lifestyle company -- offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity, Youngevity offers products from the six top selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company's food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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 our prospects for growth of our coffee segment next year, the anticipated additional revenue for our green coffee business as we complete the 2018 booking season and the continued growth within our green coffee distribution business. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that that could cause actual results to differ materially from current expectations include, among others, the ability to continue the growth in our green coffee business, and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2016 and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. 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.