Last September, Coastal Integrated Services, Inc. (COLV) announced that it acquired Simply Lids, Inc. through a share exchange agreement between COLV, Simply Lids, and the shareholders of Simply Lids, which resulted in making Simply Lids a wholly owned subsidiary of COLV.
Simply Lids is an award winning company whose specialty is disposable beverage lids in the food services industry. Simply Lids' patented technologies provide a safer, more enjoyable drinking experience, without splashing or spills, a Sept. 5 press release stated.
According to a 2014 report by market researcher Freedonia Group, US demand for cups and lids will expand 4.4 percent per year to $10.0B in 2018. Packaging cups will experience the fastest gains based on convenience and single-serving advantages, as well as favorable consumption trends in several key applications. Lids will outpace cups due to more drinking cups using lids and heightened demand for costlier specialty lids, the report stated.
Simply Lids requested to quote pricing on supplying more than 2B coffee lids
On Thursday morning, COLV announced that Simply Lids "was requested to quote pricing on supplying more than [2B] coffee lids for one of the largest providers of hot beverages."
"After recent validation in our efforts to produce the safest and most functional beverage lid, the food & drink industry has taken notice," said COLV's president John Newman in the Feb. 5 press release.
Trend Hunter indicates that Simply Lids was in the Top 20 Trends
Simply Lids was also recently listed as one of the top 20 trends for 2014 by Trend Hunter.
The article, which appeared on TrendHunter.com in July of last year stated that "If you're someone who always seems to spill their coffee through the tiny drinking hole of a plastic coffee cup lid, the reusable Simply Lids could be the ideal solution to a spill-free coffee-drinking experience."
"We are continuing to trend at a rating of 7.8 which I understand is still very high and continues to validate our product as one of the most dynamic and industry changing products out there especially in the beverage lid industry," Newman said in a Nov. 17 press release.
Simply Lids wins award at Seattle Coffee Fest show
COLV announced last October that Simply Lids won a prestigious innovative new product award at the Seattle Coffee Fest Show.
Challenged by every other possible innovation in the coffee industry, Simply Lids was the only winner in the beverage lid category, an Oct. 31 press release stated.
"This award was a huge validation in our efforts to produce the safest and most functional coffee lid in the industry," said COLV's president John Newman in the Oct. 31 press release. "It is especially impressive because since winning the award, we have considerably improved on the design and functionality of our coffee lid."
Check out how the Simply Lids product works here: http://simplylids.com/beverage-coffee-lids/
To learn more about COLV, visit: http://www.coastalintegratedservices.com/
Discla imer:
This is a paid profile. Do not base any investme nt decision upon any of the materials found in this publication or on our Web site.
The information contained on our website or in any of our newsletters is for informational purposes only, and is not intended to be advice, nor a recommendation and/or guidance for investment decisions. In preparing our publications, we rely upon publicly available information including press releases which we believe to be reliable, but have not verified. We are engaged in the business of profiling companies for monetary compensation. All direct and third party compensation received has been disclosed in our newsletter and/or our website in accordance with section 1 7 ( b ) of the Secu rities Ac t of 1 9 33.
Compensa tion: We expect to receive eight thou sand dollars from a third party, Gala xy, LLC, for a one-day e-mail campaign for Coastal Integrated Services, Inc.
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