DENVER, Dec. 11, 2013 (GLOBE NEWSWIRE) -- Marley Coffee (OTCQB:JAMN), ( www.marleycoffee.com ), the sustainably grown, ethically farmed and artisan-roasted gourmet coffee company, has purchased the majority of assets of BikeCaffé Franchising Inc., a Denver-based company that owns and sells mobile coffee carts worldwide. Ralph Massetti, former owner of BikeCaffé will remain as an ongoing consultant.
As part of the asset purchase agreement, Marley Coffee has acquired most of BikeCaffé's operational assets, which includes worldwide marks, copyrighted works, an online ordering system and a website. Marley Coffee has also acquired BikeCaffé's existing franchise agreements and a large database of potential franchisees throughout the U.S. and around the world. Included in the purchase are five Marley Coffee branded BikeCaffé coffee carts, which will be deployed strategically throughout the Denver area.
There are currently 21 BikeCaffé coffee carts in existence in the U.S., Canada, Jamaica and the United Arab Emirates (UAE), all of which will now be serviced by Marley Coffee. One franchisee is a seasoned developer of restaurants in the UAE who is contracted to deploy an additional 173 BikeCaffé coffee carts over the next 10 years.Rohan Marley, founder and chairman of Marley Coffee, said, "BikeCaffé is a natural fit with Marley Coffee. In addition to working only with sustainable coffee providers, BikeCaffé is a 100 percent environmentally friendly operation with a recycling policy and an 'earth-friendly' record. BikeCaffé is truly a symbol of how businesses should operate in an era where environmental sustainability is critical." Brent Toevs, Chief Executive Officer of Marley Coffee, said, "BikeCaffé is our latest acquisition of a Denver-based business, and represents an exciting new channel for our local and global distribution strategy. We are energized by the enthusiastic press coverage that BikeCaffé has earned to date as one of the hottest concepts for mobile cafés. We are similarly enthusiastic about the potential to grow BikeCaffé's base of Bike owners, and we plan to dedicate resources to boost sales and marketing efforts in this area."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts