Company Signs Exclusive Distribution Agreement With Chips, Dips and Beyond
MIAMI, Jun 10, 2004 /PRNewswire-FirstCall via COMTEX/ -- ChampionLyte Holdings, Inc. (CPLY) today announced it has established a low-carb subsidiary, Be-Lyte(R) Foods. The Company also announced it has signed an exclusive, three-year agreement with Miami-based Chips, Dips and Beyond for the distribution of various low-carb products under the Be-Lyte(R) brand.
"Low-carb snack foods are a natural extension of our sugar-free sports drinks and syrups which have gained great acceptance with the low-carb community," said David Goldberg, president of ChampionLyte Holdings, Inc. "It's a huge, growing market and we believe there's great opportunity for high-quality, good-tasting products like those we will introduce in the Be- Lyte(R) line."
According to industry trade publication LowCarbBiz, sales of low-carb products are expected to hit $30 billion this year with the average carb- conscious shopper spending about $85 a month on specialty foods.
"Clearly, this is a trend and not a fad," Goldberg added. "According to a survey by research firm Mintel International three out of every five low-carb dieters say they plan to limit carb intake for life. Anyone who chooses such a lifestyle will soon be able to sit back with a cool refreshing ChampionLyte Sports Drink and enjoy delicious Be-Lyte(R) low-carb chips and dips."
Goldberg said the Company will explore additional products for the line but will be extremely selective with regard to taste and texture.
"We won't consider any product that doesn't taste great," said Goldberg. "There are some 26 million Americans who are considered 'hard core' low-carb dieters right now with another 70 million who limit their carb intake without being on a formal diet. These people not only want to adhere to the low-carb lifestyle but want great-tasting products also."
ChampionLyte Beverages, Inc. manufactures and markets ChampionLyte(R), the first completely sugar-free entry in the multi-billion dollar isotonic sports drink market. It is the only sports drink with no sugar, calories, sorbitol, saccharin, aspartame, caffeine or carbonation. The reformulated product is sweetened with Splenda(R), the trade name for Sucralose produced by McNeil Nutritionals, a Johnson & Johnson company.
About ChampionLyte Holdings, Inc.
ChampionLyte Holdings, Inc. is a fully reporting public company whose shares are quoted on the OTC Bulletin Board under the trading symbol CPLY. Its recently formed beverage division, ChampionLyte Beverages, Inc., a Florida corporation, manufactures, markets and sells ChampionLyte(R), the first completely sugar-free entry into the multi-billion dollar isotonic sports drink market. Its The Old Fashioned Syrup Company subsidiary manufactures, distributes and markets three flavors of sugar-free syrups. The products are sold in more than 20,000 retail outlets including some of the nation's largest supermarket chains.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.