EXHIBIT 99.1
NEWS FROM:
COOLBRANDS INTERNATIONAL INC.
FOR IMMEDIATE RELEASE
Date: May 21, 2004
For More Information Contact:
Michael Serruya, Co-Chairman
CoolBrands International Inc.
Email Address: mserruya@coolbrandsinc.com
Telephone: (905) 479-8762
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CoolBrands Lists New Ice Cream Bars in 6,600 7-Eleven Stores
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Atkins'r' Endulge'TM', Eskimo Pie'r' and Tropicana'r' Varieties Team Up With
Chipwich'r' in CoolBrands Biggest Move Ever Into Convenience Stores
CoolBrands International Inc. (TSX: COB.A) today announced that it has received
nationwide authorization from Southland Corporation to distribute five new
CoolBrands frozen snacks to the approximately 6,600 U.S. 7-Eleven convenience
stores.
From Eskimo Pie'r', the inventor of the ice cream bar, a Giant King Size Vanilla
Ice Cream Bar with Dark Chocolate Coating which, at 6 fl. oz., is the biggest
ice cream bar in the freezer case.
From Atkins'r' Endulge'TM', the first super premium ice cream with no sugar
added to fit a controlled carbohydrate lifestyle, two flavors of ice cream bars,
each with only three Net Carbs (carbohydrates that affect blood sugar) - Vanilla
with Milk Chocolate Coating and Caramel Turtle Sundae, with Caramel Flavored Ice
Cream swirled with Chocolate Fudge and covered with Dark Chocolate Coating and
Pecans.
And, from Tropicana'r', the world leader in quality fruit juices, two flavors of
Tropicana Swirls - Vanilla Ice Cream with Raspberry Sorbet and Vanilla Ice Cream
with Orange Sorbet.
These products join Chipwich'r', CoolBrands' number one product line for small
format retailers, in a rapidly expanding portfolio of CoolBrands frozen snacks
aimed at the "impulse sales" or "out of home" segment.
"Acquiring the Haagen-Dazs distribution system from Nestle gave us strong access
to small format retailers across the U.S.," said David J. Stein, President and
Co-CEO for CoolBrands International Inc. "We are combining this distribution
clout with our powerful brands and cutting edge manufacturing resources to bring
new and exciting frozen snacks to consumers and build market share for
CoolBrands in the out-of-home segment of the ice cream category."
CoolBrands International also announced today that it will be meeting next week
with investors in the U.S. and Canada. A copy of the written presentation being
shown to investors will be available on CoolBrands' website at
www.coolbrandsinc.com.
About CoolBrands International:
CoolBrands International is a leader in the consumer products and franchising
segments of the frozen dessert industry, marketing a diverse range of frozen
dessert products under nationally and internationally recognized brand names.
CoolBrands is the pre-eminent company in the fast-growing "Better for You" ice
cream category with offerings such as fat free, non-dairy Whole Fruit'TM'
Sorbet, Weight Watchers'r' Smart Ones'r' low-fat and fat-free frozen desserts
and new Atkins'r' Endulge'TM' controlled carbohydrate super premium ice cream.
CoolBrands also competes in the super premium ice cream category with the
Dreamery'r' Ice Cream and Godiva'r' Ice Cream brands. In addition, CoolBrands
markets a wide variety of "all family" premium ice creams, frozen novelties and
frozen desserts under the Eskimo Pie'r', Chipwich'r', Tropicana'r', Welch's'r',
Yoplait'r', Betty Crocker'r' and Trix'r' brand names.
CoolBrands' subsidiary, Eskimo Pie Frozen Distribution, operates the second
largest "direct store delivery" (DSD) ice cream distribution system in the U.S.,
serving CoolBrands products and a growing family of Partner Brands to
supermarkets, convenience stores and other retail customers.
CoolBrands' subsidiary, Americana Foods, is a leading U.S. manufacturer and
supplier of soft serve mixes, packaged ice cream, frozen yogurt and sorbet
products and frozen novelties to well known national retailers, food companies
and restaurant chains. Americana Foods also manufactures and sells products for
the foodservice channel, which are extensively used to standardize quality and
reduce labor costs in on-site food preparation.
CoolBrands' Foodservice Division manufactures and sells premium soft serve ice
cream and frozen yogurt to the foodservice industry, including Weight
Watchers'r' Smart Ones'r' Non Fat Soft Ice Cream and soon to be introduced
Atkins'r' Endulge'TM' Soft Ice Cream for controlled carbohydrate lifestyles.
CoolBrands also manufactures and sells a full line of quality flavors, chocolate
coatings, fudge sauces, powders for chocolate milk, egg nog bases and other
ingredients and flexible packaging products for use in private label dairy
products in addition to the Company's brands.
CoolBrands also franchises and licenses frozen dessert outlets operated under a
Family of Brands including Tropicana'r' Smoothies, Juices & More, Swensen's'r'
Ice Cream, I Can't Believe It's Yogurt'r', Yogen Fruz'r', Bresler's'r' Premium
Ice Cream, Golden Swirl'r' and Ice Cream Churn'r', with company-owned,
franchised and non-traditional partnership locations around the world.
This press release includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 regarding, among
other things, statements relating to goals, plans and projections regarding the
Company's financial position and business strategy. These statements may be
identified by the fact that they use such words as `anticipate," "estimate,"
"expect," "intend," "plan," "believe," and other words and terms of similar
meaning in connection with any discussion of future operating or financial
performance. Such forward-looking statements are based on current expectations
and involve inherent risks and uncertainties, including factors that could
delay, divert or change any of them, and could cause actual outcomes and results
to differ materially from current expectations. These factors include, among
other things, market factors, competitive product development and promotional
activity, the level of consumer interest in the Company's products, product
costing, the weather, the performance of management, including management's
ability to implement its plans as contemplated, the Company's relationships with
its customers, franchisees, licensees and licensors, governmental regulations
and legislation and litigation. The Company undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new information,
future events or otherwise.