Bravo! Brands Signs Licensing Agreement with Organic Valley(R) for New Milk Product Line
Thursday October 26, 8:35 am ET
NORTH PALM BEACH, Fla., Oct. 26 /PRNewswire-FirstCall/ -- Bravo! Brands, Inc., formerly Bravo! Foods International Corp. (OTC Bulletin Board: BRVO - News), a brand development and marketing company that promotes and distributes vitamin- fortified, flavored milk drinks and other beverages, announced today that it had signed a licensing agreement with Cooperative Regions of Organic Producer Pools ("CROPP") to license its brand, Organic Valley®, in a new product line of aseptic packaged organic fluid milk products. The initial agreement between Bravo! and Organic Valley is an Evergreen agreement with automatic renewals each year and a 12 month termination notice.
The two companies -- Bravo! and Organic Valley -- will jointly produce organic shelf stable dairy based single-serve beverages. The initial rollout of this product will be through the Coca-Cola Enterprises (CCE) distribution channels to the education and vending machine market. Additionally, Organic Valley will use its existing network and channel relationships, where applicable, to sell the Bravo!-Organic Valley products. Additional sales into the Drug and Convenience channels will be managed by Bravo! based upon available organic milk volume as well as results in the education channel.
Initially, the licensed product will be 1% low-fat milk. Additional flavors such as 1% chocolate milk, vanilla and berry flavors are expected to be introduced over time. Bravo! and Organic Valley have agreed to initial volume targets during year one, with increases annually based on prior year sales volume over the term of the agreement. The two companies have also agreed to work together to develop soy shelf stable milk beverages.
Roy Warren, Bravo! Foods International Chief Executive Officer commented, "Our licensing agreement with Organic Valley represents a logical extension of our product line. Our intent is to have a full product line which would include various berry flavors as well as chocolate in addition to a soy-based product. We are very excited to have Organic Valley as a partner as the Organic Valley name is well recognized and highly regarded by consumers. " |
