USA: East Coast Beverage Announces Contract to Ship Its Coffee House USA(TM) Iced-Coffee Beverages to Costco Warehouse
East Coast Beverage Corp. (OTC Bulletin Board: ECBV), a leading producer of ready-to-drink bottled coffee beverages, announced today that it has entered into a contract with Anderson-Chamberlain, the in-house broker for Costco Wholesale Corp. (Nasdaq: COST). Under the agreement, East Coast Beverage Corp. has begun shipping its iced-coffee beverages in a "variety pack" form designed for the superstore consumer.John Calebrese, CEO of East Coast Beverage stated, "With roll-out beginning in early September, with the Mid-Western Division and others scheduled to follow, we are projecting that this account will generate revenues of approximately $7 million over the next twelve months and $15-18 million annually once roll-out is complete."He said that "a contract of this magnitude is a major vote of confidence to a Company in our stage of growth. Our ability to promptly respond to customers needs gives us an edge over our competitors. We were able to create a special oversized package, called a 'variety pack,' that is perfect for the superstore consumer."Bob Abby, President of Anderson Chamberlin said, "Costco is very pleased to have entered into this contract with East Coast. The presence of East Cost on a national basis creates a healthy competition in a category previously dominated by one player."East Coast's President, Alex Garabedian stated, "The addition of Costco to our ever growing list of prestigious retailers that includes Winn-Dixie, Publix, Giant Foods, Kroeger, and Ralphs, to name a few, confirms that we are meeting our customer needs and validates the products' consumer acceptance."
September 5, 2000