STATEN ISLAND, NY–(Marketwired – Feb 24, 2017) – Coffee Holding Co., Inc. (“Coffee Holding” or the “Company”) ( NASDAQ : JVA ) announces the accretion of Comfort Foods Inc., amid in North Andover, Massachusetts, a average sized bounded roaster, accomplishment both branded and clandestine characterization coffee for retail and foodservice barter amid predominantly in the northeast marketplace. In affiliation with the acquisition, the Company paid $2.3 actor for 100% of the basic banal of Comfort Foods which had about $7.3 actor in abaft twelve ages revenues.
Comfort Foods was congenital in August 1992 as a benefactor of affection gourmet coffee in characteristic broadcast canisters. The use of 100% Arabica beans in patented, trademarked broadcast canisters has positioned Comfort Foods’ Harmony Bay cast as a exceptional coffee at a aggressive amount point. Multiple coffee profiles are accessible to barter in their trademarked cans in sizes alignment from 10-48oz throughout the United States in assorted grocers, mass-merchants and specialty stores. In addition, over the accomplished bristles years, Harmony Bay has alien its articles in its 4-corner adjustable packaging bags. These adorable accoutrements are accessible in assorted artefact profiles in volumes of 28-40oz. Comfort Foods additionally provides baking and packaging casework for assorted clandestine labels, co-packing and licensing customers.
“We are aflame to accompany Comfort Foods and its Harmony Bay cast coffee into our already assorted portfolio of able bounded retail coffee brands. The Harmony Bay brand, with its abnormally patented molded canisters and assorted acidity profiles is currently awash in over 1,000 food and will access our all-embracing attendance and consecutive economies of calibration at abounding of these accepted retail accounts in the northeast. In addition, through our civic platform, we accept we can aggrandize the brand’s administration over a added business area,” said Andrew Gordon, President and CEO of Coffee Holding. “In addition, we will already afresh activate baking and packaging our articles on the east bank in the absolutely able and ample avant-garde baking adeptness we accept acquired. In affiliation to closing this transaction, we adjourned Comfort Foods’ above-mentioned charter adjustment which will now accommodate us with both a awful able and economical amplitude in which to conduct our baking and packaging operations for the aing ten years. We accept this transaction will actualize logistical accumulation for abounding of our sales transacted on the eastern beach and will additionally access our aggressive advantage at a cardinal of accepted and abeyant accounts in the northeast business area. We apprehend the accessory amount of baking both in Colorado and Massachusetts to construe to college margins and renewed efficiencies for both accepted and abeyant new business.”
About Coffee Holding
Coffee Holding Co., Inc. is a arch chip ample coffee broiler and banker in the United States and one of the few coffee companies that offers a ample arrangement of coffee articles above the absolute spectrum of customer tastes, preferences and amount points. Coffee Holding has been a family-operated business for three ancestors and has remained assisting through capricious cycles in the coffee industry and the economy. The Company’s clandestine characterization and branded coffee articles are awash throughout the United States, Canada and away to supermarkets, wholesalers, and alone endemic and multi-unit retail customers.
Any statements that are not absolute facts independent in this absolution are “forward-looking statements” aural the acceptation of the Clandestine Securities Litigation Reform Act of 1995, including the Company’s angle on approaching allowance achievement and its allotment repurchase program. Advanced statements accommodate statements with account to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and approaching performance, and absorb accepted and alien risks, uncertainties and added factors, which may be above our control, and which may account our absolute results, achievement or achievements to be materially altered from approaching results, achievement or achievements bidding or adumbrated by such advanced statements. All statements added than statements of absolute actuality are statements that could be advanced statements. We accept based these advanced statements aloft advice accessible to administration as of the date of this absolution and management’s expectations and projections about assertive approaching events. It is accessible that the assumptions fabricated by administration for purposes of such statements may not materialize. Such statements may absorb risks and uncertainties, including but not bound to those apropos to artefact demand, pricing, bazaar acceptance, ambiguity activities, the aftereffect of bread-and-er conditions, bookish acreage rights, the aftereffect of aggressive products, risks in artefact development, the after-effects of costs efforts, the adeptness to complete transactions, and added factors discussed from time to time in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to amend or alter any advanced account for contest or affairs afterwards the date on which such account is made.
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