Javo Beverage Expanding Iced Coffee At Speedway SuperAmerica LLC
SAN DIEGO--(BUSINESS WIRE)--Javo® Beverage Company, Inc. (OTCBB:JAVO), a leading provider of premium dispensable coffee and tea-based beverages to the food service industry, today announced that Speedway SuperAmerica LLC (SSA), the largest company-owned and operated gasoline and convenience retailer in the Midwest, has added Javo's ice coffees and lattes to its beverage program. Speedway SuperAmerica customers now can easily serve themselves Javo branded French Vanilla and Mocha Iced Lattes at most SSA locations.
Cody C. Ashwell, Javo chairman and CEO, said, "We are especially pleased with the expansion of this relationship that will bring specialty coffees to millions of Speedway and SuperAmerica customers. Last year, we tested and confirmed that iced coffees and lattes have a strong and growing appeal in the Midwest. No longer limited to specialty coffee retailers and coffee shops, these are flavorful and refreshing beverages that consumers want to find at convenient locations throughout the day." Ashwell added, "This expansion comes on the heels of a particularly good first quarter for Javo, in which our quarterly revenues grew by 41 percent year-over-year to $3.9 million, and our quarterly gross profit climbed by more than a third to $1.5 million compared to first quarter 2007."
Gary Lillian, president of Javo, said, "In the first 90 days of 2008, we deployed 2,096 dispensers, bringing our Q1 ending total to more than 6,400. Looking forward, the Speedway locations will positively impact our second quarter and put us in a favorable position to achieve our year end target of 7,500 to 10,000 installed dispensers."
Glenn Plumby, vice president of marketing of Speedway SuperAmerica LLC, adds, "We are committed to providing a variety of fresh foods and beverages to our customers. Iced coffee, along with our other high-quality, dispensed beverage offerings, adds to the value and convenience we offer to the 2.4 million customers who shop our stores on a daily basis."
Javo Beverage offers its foodservice customers the opportunity to serve specialty beverage programs for hot, on-demand coffee and for specialty dispensed iced coffee and tea like those found in retail coffee shops but without the need to install and learn a barista-style operating system. Both product lines feature beverage concentrates in bag-in-box packaging that once installed create recurring revenue for the company. The iced specialty coffee and tea product line offers 10 unique flavors with concentration levels as high as 7 to 1. Having both dispensed hot coffee and specialty iced coffee product lines provides Javo Beverage the opportunity to provide multiple beverage solutions to 2.5 million foodservice locations nationwide.
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, with broad applications in the food service, food manufacturing and beverage industries. For food service 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 through its development and supply of customized ingredients for packaged foods and ready-to-drink beverages. The company supplies a growing list of national and international food service operations, specialty coffee retailers, restaurant chains and food manufacturers. For information about Javo Beverage Company, please visit www.javobeverage.com.
About Speedway SuperAmerica
Speedway SuperAmerica LLC (SSA), headquartered in Enon, Ohio, is the nation's fourth largest company-owned and operated convenience store chain with almost 1,600 stores located in nine states. Most of the stores are operated under the Speedway and SuperAmerica brand names. SSA is a wholly owned subsidiary of Marathon Oil Corporation. For further information about Speedway SuperAmerica LLC, visit the Company's web site at www.speedway.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.
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