Celsius Holdings, Inc. (OTCBB: CSUH) announced a partnership with distributor Griffin Beverage Company. The calorie burning, metabolism-raising drink is currently being distributed in the state of Michigan. Griffin Beverage is a distributor of a variety of products, from alcohol beverages to soda and chips.
Celsius reported on 4/30/08 that current gross profit had risen 121 percent over the same time period last year. Mr. Stephen C. Haley, chairman and CEO said, “We were able to more than double revenue this quarter over first quarter, last year, but we expect much more of ourselves. We consider this ‘solid revenue,’ as there were a high percentage of reorders, but we wanted to and expect to have more growth.” He went on to say that there were delays during the winter due to storms. Celsius is expecting to start distributing in other states such as Florida, Georgia and Ohio in the upcoming months.
Celsius Holding, Inc. is a manufacturer and creator of a negative-calorie beverage. The company is developing a healthier beverage choice and is quickly gaining attention. Celsius plans to distribute the beverages through multiple distribution channels including gyms, supermarkets, drugstores, convenience stores etc.
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