Compass Group and Javo Beverage Add Iced Coffees and Extend Length of Supply Agreement
Javo® Beverage Company, Inc. (OTCBB:JAVO), a leading provider of coffee and tea-based beverages to the foodservice industry, announced today that Compass Group, PLC, The Americas Division, has modified its supply agreement with Javo to extend the effective period through 2012. The Compass Group has also added Javo’s dispensed iced coffees and lattes to the group of products available to its managed foodservice facilities in the United States. The Americas Division contains the U.S., Canadian and Latin American operating groups of Compass Group, the world’s largest foodservice company. Through company-owned members such as Morrison Management, Eurest, Bon Appetit, Chartwells College and University Dining, Restaurant Associates and Creative Host Services, it provides food, vending and related services on client premises at thousands of locations.
Javo Beverage Company offers a line of fresh brewed coffee and tea drinks in a concentrated form that may be easily served by foodservice operators from beverage dispensers similar to soda fountain equipment. Since being named Compass Group’s preferred supplier of on-demand, dispensed coffees in 2005, Javo has installed hundreds of dispensers at U.S. facilities managed by the contract feeder. The company records hot coffee or iced coffee/tea revenue of between $ 3,000 and $ 6,000 per year for each Javo dispensing machine placed at the foodservice facilities of its customers.
“At the more than 10,000 foodservice facilities operated by Compass and its partners in the U.S., iced coffees, like those served in coffee shops, are being requested like never before,” said Gary Lillian, president of Javo. “Our iced coffee and latte program enables operators at these high volume locations to serve quality, consistent specialty beverages.”
“We began our relationship in 2005 when Compass made Javo its preferred on-demand coffee program within its managed facility network. The modification to our agreement is very positive because it builds on our relationship with Compass and makes Javo’s full range of hot and iced coffee beverages available to thousands of the largest and finest foodservice facilities in the country,” said Cody Ashwell, CEO and Chairman of Javo Beverage Company.
Charlotte-based Compass Group, The Americas Division, is the largest contract foodservice company in the U.S. with $8.4 billion in revenues and more than 160,000 associates throughout the U.S., Canada and Latin America. Its parent company, UK-based Compass Group PLC, was ranked the 12th largest employer by Fortune magazine in 2006. It has worldwide revenues of approximately $20 billion with over 400,000 associates working in more than 90 countries. For more information about Compass Group, The Americas Division, visit www.cgnad.com.
About Javo® Beverage Company, Inc.
Based in Vista, California, Javo® Beverage Company (OTC Bulletin Board: JAVO) is an innovator and leader in the manufacture of coffee and tea-based dispensed beverages, drink mixes and flavor systems. The Company has successfully commercialized a proprietary brewing technology that yields fresh brewed coffees and teas that are flavorful, concentrated and stable. As a result, they have broad applications in the foodservice, food manufacturing and beverage industries. For foodservice operators, Javo makes it possible to serve great tasting hot coffees and cold specialty coffee beverages from convenient dispenser-based systems. Javo also assists food and beverage processors seeking authentic and robust coffee and tea flavors with the development and supply of customized ingredients for their packaged foods and ready-to-drink beverages. Through its sales, service and distribution operations, Javo® supplies a growing list of national and international foodservice operations, specialty coffee retailers, restaurant chains and food manufacturers. More information about Javo Beverage Company is available at www.javobeverage.com.
This release contains forward-looking statements made by or on behalf of Javo® Beverage Company, Inc. All statements, which address operating performance that the Company expects will occur in the future, including statements relating to volume growth, share of sales, or statements expressing general optimism about future operating results, are forward-looking statements. These forward-looking statements are based on management’s current views and we cannot assure that anticipated results will be achieved.