Richmont Holdings, a privately held investment holding company based in Dallas, has exercised a warrant for additional shares of Javalution Coffee Company, increasing Richmont’s ownership of the coffee roasting and distribution company to 10 million shares.
The news follows Javalution’s announcement that it was merging with Youngevity Essential Life Sciences, a global seller of health products.
From the companies:
Richmont Holdings said today that it has exercised a warrant for additional shares of Javalution Coffee Company (JCOF), which will increase Richmont’s position in the company to 10 million shares.
“By exercising this warrant, we are making a strong statement of confidence in the management team at Javalution and demonstrating our enthusiasm for the very innovative strategy they are taking to grow sales, as reflected in last Friday’s announcement of their merger with Youngevity Essential Life Sciences,” said Russell Mack , executive vice president of Richmont.
“There is an exciting and integrative approach to the marketplace underway at Javalution and Youngevity. It is an aggressive acquisition plan that is building a large consumer ‘cloud’ of millions of individual accounts — people who will buy and sell hundreds of different products, earn money and connect with others.
“This new strategy brings together a huge group of known buyers and sellers, who come to the ‘cloud’ with well-established relationships. They gain access to an existing infrastructure and a wide product line to support commerce. It is a very smart approach. It has massive potential and we are excited to be part of it,” said Mr. Mack.
“The element that knits it all together is coffee. More people in the world drink coffee than any other beverage except water. This massive worldwide demand for coffee is the connecting thread that makes this investment so attractive to us and, in our opinion, makes the Javalution strategy so ripe for explosive growth.”
On June 17, Miami-based Javalution signed a merger agreement with San Diego-based Youngevity, a global seller of health and personal care products.
Javalution is a fully vertical coffee roasting and distribution company, owner of the direct marketing brand JavaFit and the retail brand Cafe La Rica, as well as the category creator of functional gourmet coffee.
Richmont is a privately-held investment holding company headquartered in Dallas, TX.