Military Resale Group Kicks Product Line Expansion Into High Gear With Addition of High-Margin Gourmet Coffee & Seafood Items
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Aug. 12, 2003--Military Resale Group, Inc.'s (OTCBB: MYRG) product line expansion strategy has kicked into high gear with the addition of two new high margin product lines: Peaberry Coffee Ltd. specialty coffees and Sea Specialties Inc. smoked and pickled seafood. Military Resale Group, a specialist in the supply of food and consumer goods to military base commissaries, has signed exclusive contracts with Peaberry Coffee and Sea Specialties to be the sole distributor of their product lines to U.S. military commissaries worldwide, servicing approximately 14 million eligible patrons. Military Resale Group is one of the fastest growing companies in the industry, in large part due to its strategic focus on expanding its product line with unique, best-selling and high-margin products.
"Peaberry Coffee and Sea Specialties' product lines will be a welcome addition to discerning commissary patrons worldwide," stated Ethan Hokit, Military Resale Group President. "We're extremely pleased to be establishing exclusive relationships with vendors who offer unique, high quality items that also provide very favorable margins in excess of 20%. Our agreements with Peaberry Coffee and Sea Specialties mark a milestone for us as our first worldwide distribution agreements - a key element of our growth strategy."
Military Resale Group anticipates that Peaberry Coffee gourmet coffees and Sea Specialties smoked seafood items will be available in early October in the six commissaries Military Resale Group currently services and in U.S. military commissaries worldwide at a later date, pending Defense Commissary Agency approval. Military Resale Group is a member of an international military distributor network that it plans to utilize to distribute these, and other product lines, to military commissaries beyond those it currently services. The Company anticipates that the two new product lines will provide significantly higher margins than many other product lines the Company currently carries.
"We're thrilled that Military Resale Group is opening the military commissary market to Peaberry Coffee," said James Twiford, Peaberry Coffee National Sales Manager. "Demand for gourmet coffee has grown dramatically in the past 10 years and we're certain commissary patrons appreciate gourmet coffees as much as other consumers. We're looking forward to taking advantage of Military Resale Group's expertise in dealing with the military market."
"Sea Specialties products can be found in many restaurants, cruise ships and delicatessens, and soon, thanks to Military Resale Group, even in military commissaries," said Lee Rubin, Sea Specialties vice president of Marketing and Sales. "Military Resale Group's extensive experience in the military commissary arena will make it very easy to expand our customer base to encompass all commissary patrons. We're excited to be working with such a knowledgeable group of professionals."
About Peaberry Coffee Ltd.
Peaberry Coffee is one of the most respected specialty coffee companies in the West. Founded in 1990, in Denver, Colo., by owner and president Bill Tointon, Peaberry Coffee is synonymous with quality - literally. Peaberry Coffee travels the world to find the best arabica beans available. They are known in the industry for their expertise in roasting these exotic beans. Peaberry offers a number of estate grown and certified organic varieties for their discerning customers. It is this reputation that has earned Peaberry not only a solid relationship with many of the most respected growers and importers, but with their retail fans as well. Please call 800-223-4243 for more information on this exquisite line of coffee.
About Sea Specialties Inc.
Sea Specialties Inc. has built its reputation on a smoked fish product line that may be the country's best as it proudly carries on the 80 year Oxenberg family tradition of producing superior products and service in the seafood industry. In a market that consistently demands the highest standards of quality, our smoked, pickled, fresh and frozen seafood products grace the finest tables in homes, restaurants, country clubs and cruise ships throughout America. Over the years, our commitment through our growing family of companies in the USA and abroad has resulted in state-of-the-art production and distribution capabilities that enables us to maintain the high level of satisfaction that our customers demand. For further information visit www.seaspecialties.com.
About Military Resale Group, Inc.
Military Resale Group, Inc. is a regional marketer and distributor of a wide range of foods and consumer packaged goods to U.S. military base commissaries, which are large supermarket-style stores operated by the Defense Commissary Agency (DeCA). Military Resale Group resells frozen foods, canned and dry goods, meat, poultry, seafood, dairy products, beverages, paper goods, and cleaning supplies from consumer products manufacturers to commissaries, providing commissary patrons a cost savings of up to approximately 30%, a valuable benefit to military personnel and their families.
With a focus on unique specialty products, Military Resale Group targets both unfulfilled markets and new niche markets that demonstrate high-growth potential in local retail markets. Military Resale Group leverages its management's 50 years of experience in the military resale market to service commissaries at six major U.S. military installations in Colorado, Wyoming and South Dakota. Headquartered in Colorado Springs, Military Resale Group became a publicly held company in 2001 and believes it is one of the fastest growing companies in the military resale industry. Further information on Military Resale Group is available at www.myrg.net or by calling (719) 391 4564.
CONTACT: Military Resale Group, Inc.
Ethan Hokit, 719-391-4564
Ethan@MYRG.net |
