SCOTTSDALE, Ariz., Oct. 16, 2008 (GLOBE NEWSWIRE) -- Baywood International, Inc. (OTCBB:BAYW) ("Company") announced expansion of its business plan and unaudited sales results for its recently acquired Orangeburg, NY-based Skae Beverage International, LLC ("Skae Beverage"), maker of natural, ready-to-drink New Leaf brand of teas.
Sales Results
Skae Beverage unaudited sales for the nine months ended September 30, 2008 grew 183% to $2,500,000, compared to $885,000 in the year-ago period. Volume growth was primarily driven by the growing sales into the distribution network and increasing turn of the brand from consumers in the independent grocery/restaurant "street" channel.
The New Leaf brand is already established in the Northeast and is emerging in the Southeast, Midwest and South Florida through over 50 distributors and approximately 5,000 accounts in the independent grocery/restaurant "street" channel. The Company's goal is to build the New Leaf brand and drive sales growth through expanded distribution, marketing support and new product additions.
"The track record and continuing momentum of the New Leaf brand with distributors and consumers is compelling. The growth of Skae Beverage is the result of a great product coupled with great management, and we intend to support this enterprise and Mr. Eric Skae to its fullest potential," stated Neil Reithinger, President & C.E.O. of Baywood.
Teas are a component of the fast growing functional beverage category. The Company believes that it is essential to expand its business aggressively in this category. As previously announced, it has appointed Mr. Eric Skae to run the Skae Beverage division and to its Board of Directors to oversee these plans. This expansion centers on the following guidelines:
-- New Beverage Market Opportunities -- The Company believes that
the acquisition of Skae Beverage/New Leaf Tea provides a
significant growth opportunity in the overall $10 Billion
functional beverage markets.
-- Operational Synergies -- The Company believes it can achieve
production and distribution efficiencies with the aim of
enhancing profitability.
-- Product Opportunities -- The Company intends to use its
expertise in nutritional formulation in these various
distribution channels to develop a new line of ready-to-drink
(RTD) beverages based on Super Juices* and other functional
beverages.
-- Manage the nutraceutical business for growth in the natural
health food channels through support for its most popular,
profitable and new products.
A New Functional Beverage
The Company believes that it can effectively combine its nutraceutical beverage expertise and health food distribution channels with Skae Beverage's RTD expertise in the street and food, drug and mass distribution channels to foster significant growth in RTD tea and a new and authentic RTD Functional Beverage targeted to Gen Y and their Baby Boomer parents.
About Baywood:
Baywood International, Inc. (OTCBB:BAYW) ("Baywood") is a nutritional science company that develops, markets and sells nutraceutical and nutritionally enhanced products and new age beverages under its own brands. Baywood merges its expertise in nutritional formulation with its leverage in sales and distribution to deliver the most effective and progressive products to market. Currently, Baywood's products are sold under three brands that are distributed into retail markets nationwide and internationally as follows:
-- New Leaf Tea -- Available in the Northeast and South Florida
through 50+ distributors and approximately 5,000 accounts of
independent grocery/restaurant "street" channel (i.e. bagel
stores, delis, pizzerias, cafes, independent convenience stores,
college book stores etc) (www.drinknewleaf.com).
-- LifeTime(r) -- Available in independent and chain health food
stores, natural grocery stores, and other direct-to-consumer
channels both internationally and domestically
(www.lifetimevitamins.com)
-- Baywood PURECHOICE(r), Baywood SOLUTIONS(r) and Complete La
Femme(r) -- Available in independent and chain health food
stores, natural grocery stores, and other direct-to-consumer
channels both internationally and domestically
(www.baywoodproducts.com)
-- Mamajuana Extreme(tm) -- Available in select convenience stores
and chain stores nationwide (www.mamajuanaextreme.com)
*Super Juices and functional beverages are considered part of a new category of beverages called New Age Beverages that the Company believes is gaining popularity with consumers. A Super Juice is a juice compromised of super fruits, a marketing term first used in the food and beverage industry in 2005, that refers to a fruit having exceptional nutrient richness and antioxidant quality with appealing taste.
For more information, call (888) 350-0799, or for more information, visit Baywood's corporate website at www.bywd.com.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon general economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of additional capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's Form 10-Ks and 10-Qs on file with the United States Securities and Exchange Commission.