McKinney, TX, January 15, 2008 --(PR.com
)-- Coffee Exchange of the Americas, Inc. today announced the completion of its acquisition of One Cup to Go, Inc., dba Supreme Bean, a privately held coffee company based in Bakersfield, California. The transaction was ﬁnalized on Monday, January 7, 2008.
“The locations are well positioned and are complementary to our existing network of stores,” said Carl Olivieri, CEO of Coffee Exchange of the Americas, Inc. (CEOTA). “Supreme Bean is a leading coffee company in the Bakersfield and central valley California market.” Supreme Bean was founded in 1995 with 4 locations and has grown to 10 in the past few years. Supreme Bean customers will continue to enjoy great coffee and will now have access to CEOTA’s proprietary coffee roasts, for which CEOTA is becoming increasingly well known. Through this acquisition, we will be able to introduce our lines of super-premium coffees, hot cocoas, blended drinks and teas to a wider audience.”
“We expect that as the industry continues to mature, there will be further consolidation in the retail coffee market,” says Olivieri. “We continue to actively pursue growth opportunities, including additional acquisitions and territorial development, locally and in new markets inside and outside of the U.S. The quality and innovation of our products continues to fuel strong sales growth and we believe will contribute to significant future expansion as we continue our nationwide expansion.”
About One Cup To Go, Inc.
One Cup to Go, Inc. is a California corporation located in Bakersfield, California and has been in business since 1995 with 10 locations. One Cup to Go, Inc. has been operating its coffee cafes and drive thru locations under the brand name of Supreme Bean.
About Coffee Exchange Of The Americas, Inc.
Coffee Exchange Of The Americas, Inc. is a gourmet coffee company that is dedicated to roasting, distributing and marketing the highest quality coffee available to coffee lovers throughout the United States. For more information please visit their web site at: ceota.com.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include expectations about the anticipated beneﬁts of the One Cup To Go, Inc. acquisition, which involve risks and uncertainties that could cause actual results to differ materially from results expressed or implied by these statements.