USA: Peet's Coffee & Tea, Inc. announces distribution partnership with BiRite Foodservice Distributors
"We are excited about our relationship with BiRite because it services many restaurant and foodservice accounts that will complement our strategic brand-building programs and enhance our revenue growth," said Amy Louis, director of specialty and office coffee sales, Peet's Coffee & Tea, Inc. "BiRite understands the importance of establishing higher standards for brewing techniques and beverage preparation throughout the foodservice industry, and it sees the opportunity to upgrade coffee and tea service to artisan, high-quality products from Peet's."
"BiRite is pleased with the opportunity to market and distribute Peet's products as a perfect complement to our existing upscale private label and nationally branded offerings. We are looking forward to enabling the discriminating foodservice operator to feature these wonderful products," said Steve Barulich, president of BiRite Foodservice Distributors.
The BiRite partnership supports Peet's multi-channel business strategy that targets wholesale customers such as white tablecloth restaurants and quality-focused foodservice operators. Peet's is highly selective in developing its wholesale partners. These partners must adhere to the company's strict freshness and quality standards to ensure that their customers experience Peet's coffees and teas at their best.
About Peet's Coffee & Tea, Inc.
Founded in Berkeley, California in 1966, Peet's Coffee & Tea, Inc. is a specialty coffee roaster and marketer of fresh, deep-roasted whole bean coffee for home and office enjoyment. Peet's fresh-roasted coffee, hand-selected tea and related items are sold in several distribution channels including specialty grocery and gourmet food stores, online and mail order, office and restaurant accounts and 59 company-owned stores in four states. Peet's is committed to strategically growing its business and to maintaining a unique culture and focus on customer satisfaction. For information about Peet's Coffee & Tea, Inc. visit www.peets.com or call 1-800-999-2132. Peet's Coffee & Tea, Inc. shares are traded under the symbol PEET.
About BiRite Foodservice Distributors
BiRite is the largest independently owned and operated broad-line foodservice distributor in Northern California. Founded in 1966, BiRite serves restaurants, hotels, healthcare institutions, and other foodservice customers with a myriad of food and food-related products and services in Northern California and Northern Nevada. For more information about BiRite, please call 415/656-0187.
This press release contains statements that are not based on historical fact and are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because of the uncertainties inherent in these forward-looking statements, our actual results could differ materially form those set forth in forward-looking statements. The Company's estimates regarding our operations and financial results are based on currently available operating, financial and competitive information. Actual future results and trends may differ materially depending on a variety of factors including but not limited to, coffee and other raw material prices and availability, successful execution of strategies and plans for expansion, competition, general economic conditions, the popularity of specialty coffee due to consumer trends, health factors or other issues, as well as other risk factors as described more fully in the Company's filings with the Securities and Exchange Commission, including our final prospectus filed on January 25, 2001.
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