Vitasti Enter Joint Venture for Acai
The company is currently in discussions with three major retailers for its Acai private label products in North America and the UK.
05/12/05 Vitasti, Inc. has entered into a letter of intent with one of North America's leading beverage manufacturers for the joint venture development and launch of Amazon Acai Vita Waters. The formulation of the vitamin enriched water will have all the health benefits of the Acai Berry including antioxidants, minerals and protein. The company's partner and industry leader, Sambazon, will provide the Acai Berry ingredient for the project.
This relationship will allow Vitasti to penetrate the market quickly and position the new line as first of its kind in the $13.3 billion U.S. alternative beverage market.
"This relationship is with a very established organization having recognizable products currently in the North American marketplace. We strategically chose to work with BM to assist us in bringing our Amazon Acai Vita Water to market quickly and produce an end product of exceptional quality," says Tammy-Lynn McNabb, President of Vitasti Inc. The company will utilize BM's current distribution channel, who has the expertise and resources to greatly improve the availability of the brand along with our current brand managers -- Duffner and Associates and Higgins, Cohn Brand Management. "As pioneers in the Acai Berry market, our core line of products have positioned the company as the leader in this highly acclaimed industry," says McNabb.
The company expects to realize further revenue streams through private label opportunities for all of its Acai products. The company is currently in discussions with three major retailers for its Acai private label products in North America and the UK. "We recognize that the private label sector is growing. Total sales of private label products now exceeds $50 billion and rising and we want to position Vitasti to realize opportunities in this area," says McNabb
Utilizing BM's distribution channel that currently exists in Asia, the company has plans for distribution to the Asian market early 2006. "This is also a multiple-billion-dollar market that can't be ignored. Our joint venture relationship will allow us to piggy back our product into an already established distribution channel," says Ms. McNabb.
