Imperial Sugar Company (NASDAQ:IPSU) today announced it has entered into a brokerage agreement with Maximus Coffee Group, a premier North American coffee processing, packaging and marketing company. Headquartered in Houston, Maximus is keenly focused on partnering with third party companies to develop private label coffee programs.
"This agreement demonstrates Imperial Sugar's commitment to value creation by diversifying revenue streams via strategic industry partnerships," said John Sheptor, president and CEO of Imperial Sugar. “By leveraging Imperial’s extensive network of contacts within the food and beverage industries, Maximus will have enhanced opportunities to create business relationships that will benefit both of our companies.”
The sales agency agreement will enable Maximus to gain a stronger foothold in the North American retail grocery market. As a result, Imperial Sugar will receive a portion of the net revenue Maximus makes through its newly acquired contract.
“Maximus does a great deal of business with several U.S. retail chains, but we are always looking for creative ways to increase our market share,” said Carlos de Aldecoa, president of Maximus Coffee Group. “Our agreement with a well-branded supplier like Imperial Sugar is unique and will allow us to increase the breadth and depth of our strategic sales effort."
About Imperial Sugar
Imperial Sugar Company is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial(R), Dixie Crystals(R) and Holly(R) brands. For more information about Imperial Sugar, visit www.imperialsugar.com.
Statements regarding future market prices and margins, future energy costs, future operating results, operating efficiencies, future government and legislative action, future cost savings, future benefit costs, future joint ventures, our liquidity and ability to finance our operations, and other statements that are not historical facts contained in this release are forward-looking statements that involve certain risks, uncertainties and assumptions. These include, but are not limited to, market factors, energy costs, the effect of weather and economic conditions, farm and trade policy, our ability to realize planned cost savings, the available supply of sugar, actual or threatened acts of terrorism or armed hostilities, legislative, administrative and judicial actions and other factors detailed in the Company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.
Pierpont Communications
Vice President
Clint Woods, 713-627-2223 x 1119
cwoods@piercom.com
