JAVO BEVERAGE COMPANY REVOLUTIONIZES SERVING A GOOD CUP OF JOENew Management Team Changes La Jolla Fresh Squeezed Coffee to Javo Beverage Company, Crystallizes Marketing Strategy
SAN DIEGO, July 30, 2002 - Stale coffee may soon be a thing of the past. La Jolla Fresh Squeezed Coffee Company (LJCC OTCBB) announced today that effective August 21, 2002, it is changing its name to Javo Beverage Company, Inc. and is launching a revolution to change the way coffee and coffee-flavored products are served at food establishments.
After a thorough research and development process, Javo Beverage Company has created a proprietary cold brewing technology to deliver a liquid coffee concentrate that is not only easy and cost-effective for food servers to prepare but also tastes great. The company's bag-in-box liquid concentrate for the foodservice industry ensures premium coffee with every cup. It is as easy to serve as a fountain drink and eliminates cost, waste and complexity for restaurateurs.
Coffee is the last major beverage category that continues to be prepared on-site, burdening operators with high labor costs, waste that can run as high as 50 percent and, most importantly, inconsistent quality.
"Traditionally brewed coffee is the last major beverage segment to be prepared on-site, and has created numerous challenges for operators including inconsistent quality, poor use of labor and high waste levels," said Javo Beverage Company President Gary Lillian. "Javo provides a convenient and cost effective solution for organizations faced with the task of serving gallons of coffee each day. With Javo Fine Coffees, every serving has the same, fresh taste whether the first or one-hundredth cup served."
"Our cold brewing technology is what ensures the premium taste of our coffee," said Cody C. Ashwell, chairman and CEO of Javo Beverage Company. "Liquid concentrates using standard hot brewing processes have been associated with poor tasting coffee. Foodservice operators can now count on every cup of Javo coffee to taste great."
Javo also produces premium liquid coffee extracts for use as ingredients to give cold drinks like iced lattes and ice cream a robust, genuine coffee flavor.
New Management Team Completes Javo Story
A management team put in place in the past year to complement the talents and research of founder Stephen Corey created Javo's business strategy. Key executives include:
Cody C. Ashwell, chairman and chief executive officer: Ashwell was the managing partner of Ashwell, Marshall & Associates, a financial services and consulting firm specializing in small- and mid-cap companies.
Gary A. Lillian, president: Lillian has served more than 20 years in his career covering marketing, new business start-ups and management consulting. He has held executive level positions at several companies including, PepsiCo, Ford Motor Company, Pennzoil-Quaker State and The Clorox Company.
Tony D'Onofrio, chief operating officer: D'Onofrio recently served as executive vice president of global system capability at Kmart Corp. During his career he also has completed senior product development and production assignments at Merck, Michael's Stores, PepsiCo and Proctor & Gamble.
Stephen Corey, founder and senior vice president: Corey has performed 10 years of scientific research on coffee and coffee processing systems and is responsible for the research, development and supervision of Javo's manufacturing processes.
Richard Gartrell, chief financial officer: Gartrell is a certified public accountant with 28 years of accounting experience at several accounting firms, including Arthur Andersen and has experience as a CFO at a variety of companies, most recently, AMX Resorts, Inc.
William Marshall, general counsel: Marshall was a partner in Ashwell, Marshall & Associates, a financial services and consulting firm specializing in small- and mid-cap companies.
About Javo Beverage Company
Javo Beverage Company, based in San Diego, Calif., is a technology-based manufacturer of coffee concentrates and extracts for the foodservice and ingredient markets. Javo Beverage Company is the first company to produce a liquid coffee concentrate for the foodservice industry using cold brewing technology, resulting in coffee that is not only as easy and cost-effective to prepare and serve as a fountain drink, but also tastes great. Until the name change is formalized, Javo Beverage Company will continue to be traded under the symbol (LJCC OTCBB) as La Jolla Fresh Squeezed Coffee Company, Inc. Javo Fine Coffees are served at hundreds of restaurants and foodservice establishments nationwide. More information about Javo Beverage Company is available at www.javobeverage.com
