Bravo! Foods International has signed a distribution agreement with Jasper Products until September 2010.
Both parties have agreed to annual volume commitments for the ordering and production of Bravo!’s various lines of shelf-stable, single-serve flavoured milk beverages.
Bravo! has immediately paid a one-off equipment mobilisation payment of US$2.7 million to Jasper, incorporating monetary penalties for both unused capacity by Bravo! and any production shortfall by Jasper.
Brand development and marketing company Bravo! manufactures, promotes and distributes vitamin- fortified, flavoured milks. Jasper, of Missouri, has produced flavoured milks, including Slammers, since 2001.
The scheduled production commitments with Jasper will be on a ramped-up basis, commencing in April 2006, with the installation of additional processing equipment at Jasper’s Joplin plant. These production commitments satisfy Bravo!’s signed obligations with Coca-Cola Enterprises made in the summer of 2006.
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Bravo! CEO Roy Warren said: “The importance of entering into this agreement with Jasper cannot be overstated. By it, we satisfy our supply obligations under the CCE Master Distribution Agreement and move closer to our long-term production goals.
“Perhaps more important is the continuation of our past relationship with Jasper – one that has been invaluable to Bravo! in terms of Jasper’s support, cooperation and faith in our business.”