Bravo! Foods signs multi-year distribution agreement with Jasper Products
Under the terms of the agreement, the parties have agreed to annual volume commitments for the ordering and production of Bravo!'s various lines of shelf-stable, single-serve flavored milk beverages.
05/01/06 Bravo! Foods International Corp., a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milks, has announced that it has signed a multi-year distribution agreement with Jasper Products, L.L.C. of Joplin, Missouri, one of only three dairy processors in the United States that has approval of the United States Food and Drug Administration to produce aseptic shelf-stable milk in bottles. Bravo! has contracted with Jasper, which has produced its flavored milks, including Slammers(R), since 2001, for the continued production of Bravo!'s products through September 2010.
Under the terms of the agreement, the parties have agreed to annual volume commitments for the ordering and production of Bravo!'s various lines of shelf-stable, single-serve flavored milk beverages. The scheduled production commitments with Jasper will be realized on a ramp-up basis, commencing in April 2006, with the installation of additional processing equipment at Jasper's Joplin plant. These production commitments will satisfy the agreed upon supply obligation of Bravo! to Coca-Cola Enterprises, Inc. (CCE), under Bravo!'s Master Distribution Agreement with CCE by the summer of 2006.
To secure the production commitments, as well as the right of first refusal for Jasper's additional production capacity going forward, Bravo! has paid a one-time equipment mobilization payment of $2.7 million to Jasper. The agreement incorporates per unit monetary penalties for both unused capacity by Bravo! and any production shortfall by Jasper.
Bravo! Foods International Corp. develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 states, the United Kingdom, Mexico and various Middle Eastern countries. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand name Slammers(R).
Many of Bravo! Foods' Slammers(R) line of extended shelf-life, single- serve milk drinks are co-branded through exclusive partnerships with Masterfoods(TM), a division of Mars Incorporated(TM), Marvel Entertainment(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 35,000 stores nationwide, including such popular chains as: 7-Eleven, A&P, Associated Grocers, Bi-Lo, Bruno's, C/S Metro, Dutch Farms, Giant Food Stores, Jewel, Mars, Pathmark, Piggly Wiggly, Ralphs, Safeway, Sam's Club, Shaw's, ShopRite, Speedway, SuperTarget, Unified, Waldbaums, Walgreens and White Rose.
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