BRVO Bravo! Foods and Coca-Cola Enterprises Sign Letter of Intent
NORTH PALM BEACH, Fla., Aug. 4 /PRNewswire-FirstCall/ -- Bravo! Foods
International Corp. (OTC Bulletin Board: BRVO), a brand development and
marketing company that manufactures, promotes and distributes vitamin-
fortified, flavored milks, announced today that it has signed a letter of
intent to negotiate a master distribution agreement and a direct purchase
stock
agreement with Coca-Cola Enterprises.
The Letter of Intent with Coca-Cola Enterprises, Inc. (CCE) confirmed both
parties' intention to move forward with further negotiations for the execution
of a Master Distribution Agreement between the Company and Coca-Cola
Enterprises, and for continued negotiations to enter into a stock purchase
agreement pursuant to which Coca-Cola Enterprises would purchase from the
Company approximately 81,030,000 million shares of the Company's common stock
for $0.16245 per share.
Bravo! CEO Roy Warren said, "A distribution and purchase agreement with
one
of the largest distributors in the country is a giant leap forward for Bravo!
as we continue our momentum in retail outlets across the county and abroad. We
look forward to a mutually beneficial relationship with CCE and substantial
growth of Slammers(R) worldwide as a result."
The Master Distribution Agreement with CCE would grant exclusive
distribution rights to Coca-Cola Enterprises throughout North America and
other
territories in which CCE is licensed to bottle products of The Coca-Cola
Company, for all existing and future Bravo! Foods products during the term of
the Distribution Agreement.
The Letter of Intent also confirmed that, with the direct purchase of
common stock from the Company by Coca-Cola Enterprises, together with shares
of
common stock purchasable upon the exercise of Options to acquire a total of
68,990,244 shares of the Company's common stock purchased by Coca-Cola at
$0.36
per share from nine different non-affiliated investors, Coca-Cola Enterprises
will hold slightly in excess of 50% of the Company's equity on a fully diluted
basis. If consummated, the controlling interest would be purchased by Coca-
Cola Enterprises for an average price per share of approximately $0.25.
About Bravo! Foods
Bravo! Foods International Corp. (OTC Bulletin Board: BRVO) develops,
brands, markets, distributes and sells nutritious, flavored milk products
throughout the 50 states, Mexico and the Middle East. The Company's popular
dairy products are available in the United States and internationally through
production agreements with regional milk processors. Bravo! drinks are
currently available under the brand name Slammers(R), and can be purchased in
retail outlets throughout the country and in some international markets.
Many of Bravo! Foods' Slammers(R) line of fortified, single-serve flavored
milk drinks are co-branded through exclusive partnerships with Mars
Incorporated(TM), Marvel Enterprises(TM) and MD Enterprises(TM) (Moon Pie(R)),
providing superior name recognition packaged with quality, great tasting
drinks.
Slammers(R) are now available at more than 30,000 stores nationwide,
including such popular chains as: 7-Eleven, A&P, Associated Grocers, BI LO,
Brunos, C/S Metro, Dutch Farms, Giant Food Stores, Jewel, Mars, Pathmark,
Piggly Wiggly, Ralph's, Safeway, Sam's Club, Shaw's, Shop Rite, Speedway,
SuperTarget, Unified, Waldbaums, Walgreens and White Rose.
For more information, visit: bravobrands.com or
otcfn.com .
Contact: Roy Warren, CEO Bravo! Foods, 561-625-1411 or James Dryer,
Investor Relations, 561-837-8057 or jamie@otcfn.com .
Safe Harbor under the Private Securities Litigation Reform Act of 1995:
The
statements which are not historical facts contained in this press release are
forward-looking statements that involve certain risks and uncertainties
including but not limited to risks associated with the uncertainty of future
financial results, regulatory approval processes, the impact of competitive
products or pricing, technological changes, the effect of economic conditions
and other uncertainties as may be detailed in the Company's filings with the
Securities and Exchange Commission.
SOURCE Bravo! Foods International Corp.
Roy Warren, CEO, Bravo! Foods, +1-561-625-1411; or James Dryer, Investor
Relations, +1-561-837-8057 or jamie@otcfn.com, for Bravo! Foods
04Aug05 16:21 GMT
Symbols:
us;BRVO
Source PRN PR Newswire
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