Youngevity International, Inc. (NASDAQ: YGYI) is likely to have a strong time in the market ahead, and for good reason. The company made a key announcement with regard to its wholly owned subsidiary, CLR Roasters, which is likely to excite investors.
YGYI Announces Alliance With Ascaso
As mentioned above, Youngevity International released a key piece of news today that's likely to prove to be exciting to the company's investors. The company announced that its wholly owned subsidiary, CLR Roasters, has entered into an alliance with Ascaso. Ascaso, headquartered in Barcelona, Spain, manufactures and distributes espresso machines globally. Under the new alliance, CLR Roasters now owns exclusive distribution rights of Ascaso's Espresso Equipment for the Food Service market in South Florida.
YGYI also informed investors that Café La Rica, made by CLR Roasters and The OfficialCafecito of the Miami Marlins, has broadened its food service distribution footprint and is now extending into the Florida Keys and Melbourne and continues to gain shelf space.
CLR Roasters has added an additional 25 food service accounts in the past 45 days, including multiple 7-11 stores, Orion Convenience Stores, Circle K franchises, La Granja Restaurants, Bravo stores, and additional Winn Dixie and Freso Y Mas cafeterias. In a statement, Ernesto Aguila, President of CLR and founder of the Café La Rica brand, had the following to offer...
“We are proud to now exclusively provide Ascaso Expresso Equipment alongside our As Café La Rica espresso in the food service market. In my opinion, there is no better espresso equipment available in the market today and we expect this competitive advantage to continue to drive the momentum of Café La Rica as we move toward national distribution.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on YGYI and their CLR Roasters subsidiary. In particular, we're excited to see the results of the new alliance with Ascaso. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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