Coca Cola Enterprises Modifies Agreement With Vermont Pure.RANDOLPH, Vt.--(BUSINESS WIRE)--Oct. 3, 1998--Vermont Pure Springs, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :VPUR) announced today that Coca Cola Noun 1. Coca Cola - Coca Cola is a trademarked cola Coke cola, dope - carbonated drink flavored with extract from kola nuts (`dope' is a southernism in the United States) Enterprises, Inc. (CCE CCE Cornell Cooperative Extension CCE Corporate and Continuing Education CCE Coca-Cola Enterprises Inc. CCE Commission de Coopération Environnementale CCE Centre for Continuing Education CCE College of Continuing Education CCE Certified Computer Examiner ) has given notice that, effective January 1, 1999, it will modify the terms of the distribution arrangement between the two companies. CCE distributes Vermont Pure products in the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. area, upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. and parts of Southern New England. The existing contract provides for an annual renewal each year for an additional one-year term unless CCE furnishes 90 days notice on a timely basis. Under the new arrangements, CCE has advised the Company that it intends to continue distributing the Company's products, but subject to 30 days notice of termination. CCE's distribution accounted for approximately 31% of the Company's total sales revenue for the nine months ended July 31, 1998. Additional information about the company's relationship with CCE appears in the Company's Annual Report filed with the SEC. Vermont Pure believes that it is too early to assess accurately the effect of CCE's decision. Vermont Pure Holdings, Ltd., located in Randolph, Vermont, is a bottler and distributor of natural spring water through its subsidiary, Vermont Pure Springs, Inc. The company's primary business is the marketing of Vermont Pure branded natural spring water, acknowledged for its qualities of "Pure Taste Pure Refreshment", to retail and home and office delivery markets in New England, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and the mid Atlantic regions. The company is executing a growth strategy through acquisitions and consolidation of regional home and office distributors. Vermont Pure Holdings Ltd.'s common stock trades on The Nasdaq Small Cap Market(SM) tier of The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (SM) under the symbol: VPUR. NOTE: This press release contains forward looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward looking statements, including integration of acquisitions, ability to sustain and manage growth, changing market conditions, and other risks detailed in the company's filings with the Securities and Exchange Commission. |
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