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US: Bravo! Foods signs deal with Coke Enterprises

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Bravo! Foods International Corp. has signed an exclusive, 10-year distribution agreement with Coca-Cola Enterprises (CCE).

Coca-Cola Enterprises will begin distribution of Bravo!'s Slammers in the fourth quarter of 2005 and initially carry eight SKUs, including Bravo!'s Slim Slammers, Pro-Slammers, 3 Musketeers Slammers, Starburst Slammers and Milky Way Slammers. The brands will be distributed nationwide through specific channels including, convenience retail, education, vending and small independent stores.

As part of the agreement, Bravo! will grant CCE 30m warrants that are exercisable at US$0.36 per share. These warrants, if exercised within three years, provide CCE the opportunity to become a minority shareholder in Bravo!, entitling CCE to acquire 10% of Bravo's total authorized shares outstanding at a purchase price of US$10.8m.

Bravo! CEO Roy Warren said: "We are honoured to partner with CCE. The single serve, flavoured milk industry segment has grown considerably over the last several years despite the inherent constraints of traditional chilled dairy distribution systems."

John R. Alm, president and CEO of Coca-Cola Enterprises said: "Bravo! has a strong line-up of shelf-stable milk products, which we believe will be an excellent addition to our product portfolio. Our new partnership creates the opportunity to combine Bravo's unique brands with the strength of our distribution and selling system."


Sectors: Soft drinks

Companies: Coca-Cola Enterprises

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