Reed’s, Inc. Announces Third Private Label Customer
07 Abril 2010 - 9:30AM
Business Wire
Reed's, Inc. (NASDAQ: REED) (OTCBB: REEDP), maker of the
top-selling sodas in natural food stores nationwide, announced
today that it has reached its third private label agreement with a
major international food company. Reed’s expects to begin shipping
to its third custom label client’s chain of 145 U.S.-based
supermarkets later this year.
“We continue to see significant upside to our private label
business, which has allowed us to tap into new sales channels with
some of the largest and best known retailers in the country,” said
Mr. Chris Reed, Founder, Chairman and CEO of Reed’s, Inc. “Our
third private label deal with a major international food company
highlights our ability to significantly grow our business by
bringing creative, high-quality products to market that meet our
private label clients’ exacting specifications and needs.” Mr. Reed
added, “In fact, our third customer will also be picking up a
number of our branded products, which reinforces the positive
effect our growing private label relationships with mainstream
supermarket chains are having on increasing our branded business
line.”
According to a recent research report, titled “Recession, Recovery and Store Brands: What
Consumers Are Saying Now,” published for the Private Label
Manufacturers Association and conducted by GfK Custom Research
North America, shoppers who identify themselves as ‘frequent’
buyers of store brands are at an all-time high, and some 57% say
they buy private label products frequently, a figure that has been
increasing and was under 55% a year ago. The research report found
more than six in 10 American consumers said they plan on buying
more private label as they attempt to stretch their food dollars.
The full report can be retrieved at:
http://www.plma.com/share/press/FOR_IMMEDIATE_RELEASE/PLMA_Recession_Recovery_and_Store_Brands.pdf
Mr. Reed concluded, “We recognize the growing trend in private
label consumption, and hope to have 7 to 10 new private label
customers by the end of 2010. As a result, we anticipate a record
year as our financials begin to reflect the hard work we have put
into this initiative. Since our private label clients have a long
lead time to implementation, we expect most of the benefits will be
felt in the third and fourth quarters of 2010. The strong increases
in growth and profits that we expect to achieve from these accounts
will allow us to further drive brand awareness and sales for our
premium products and increase shareholder value as we take our
business to the next level.”
About Reed's, Inc.
Reed's, Inc. makes the top selling sodas in natural food markets
nationwide and is currently selling in 10,500 supermarkets in
natural foods and mainstream. Its six award-winning non-alcoholic
Ginger Brews are unique in the beverage industry, being brewed, not
manufactured, and using fresh ginger, spices and fruits in a
brewing process that predates commercial soft drinks.
In addition, the Company owns the top selling root beer line in
natural foods, the Virgil's Root Beer product line, and the top
selling cola line in natural foods, the China Cola product line.
Recently, Reed's added the Sonoma Sparkler brands to its line, a
celebration drink with an established customer base. Other product
lines include: Reed's Ginger Candies and Reed's Ginger Ice
Creams.
Reed's products are sold through specialty gourmet and natural
food stores, mainstream supermarket chains, retail stores and
restaurants nationwide, and in Canada. For more information about
Reed's, please visit the company's website at:
http://www.reedsgingerbrew.com or call 800-99-REEDS.
Follow Reed's on Twitter at:
http://www.twitter.com/reedsgingerbrew
Reed's Facebook Fan Page at:
http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf
Subscribe to Reed's RSS feed at:
http://www.irthcommunications.com/REED_rss.xml
More information can be found at:
http://www.irthcommunications.com/clients_REED.php
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those
describing Reed's goals and strategies, contain "forward-looking
statements." These forward-looking statements can generally be
identified as such because the context of the statement will
include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements
that describe future plans, objectives or goals are also
forward-looking statements. While Reed's is working to achieve
those goals and strategies, actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. These risks and
uncertainties include difficulty in marketing its products and
services, maintaining and protecting brand recognition, the need
for significant capital, dependence on third party distributors,
dependence on third party brewers, increasing costs of fuel and
freight, protection of intellectual property, competition and other
factors, any of which could have an adverse effect on the business
plans of Reed's, its reputation in the industry or its expected
financial return from operations and results of operations. In
light of significant risks and uncertainties inherent in
forward-looking statements included herein, the inclusion of such
statements should not be regarded as a representation by Reed's
that they will achieve such forward-looking statements. For further
details and a discussion of these and other risks and
uncertainties, please see our most recent reports on Form 10-KSB
and Form 10-Q, as filed with the Securities and Exchange
Commission, as they may be amended from time to time. Reed's
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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