Sugarmade to Significantly Increase Product Portfolio Via Introduction of 100% Tree Free Disposable Food Service Products


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PK:SGMD
07/23/2014 [ACCESSWIRE]

San Francisco, Calif. / ACCESSWIRE / July 23, 2014 / Sugarmade, Inc. (OCTQB:SGMD), a marketer and distributor of sustainable tree-free paper products, today announced it has formed a strategic partnership with Tree Free, LLC, a distributor of 100% tree-free disposable food containers, and Bolton International of Hong Kong in order to bring cost effective, bamboo-based food containers and food service products to the takeout and traditional restaurant markets within the United States.  Under the terms of the agreement, Sugarmade and recently acquired CarryOutSupplies.com, will begin offering these innovative and environmentally friendly products to fast food and traditional restaurants across North America, including to its more than 3,000 current customers.

Under the terms of the agreement, Sugarmade and CarryOutSupplies.com will begin stocking and offering a wide array of 100% tree free fast food containers and related disposable food service products under a consignment agreement where Tree Free will carry the cost of all inventories manufactured by Bolton international in Asia.  As a result, there will be virtually zero working capital impact on Sugarmade even though it is significantly expanding its overall product lines.

Mr. Denny Wong, Tree Free General Manager and Board of Directors member commented, “Companies such as Starbucks and McDonald's have demonstrated real leadership relative to reducing the amount of unsustainable packaging, but this level of corporate responsibility has yet to filter down to the vast majority of smaller fast food suppliers.  We believe one of the major reasons for this is that smaller operators have not had access to high-quality and cost-effective sustainable paper products.  We hope to change this dynamic by significantly increasing the number of 100% tree-free products available to the fast food industry.  We believe Sugarmade and CarryOutSupplies.com will be outstanding partners toward this end.”

“Mr. Harry Cheung of Bolton International commented, “This innovative strategic partnership arrangement with Sugarmade and Tree Free is exciting to Bolton because it will allow us to utilize the proven sales channels already developed by Sugarmade allowing us to much more quickly penetrate the North American market.  Because inventory acquisition and carrying costs are being borne by Tree Free, Sugarmade will be able to deploy its working capital toward sales efforts, which should increase both its level of sales success and profitability.  We look forward to being part of this marketing initiative designed to introduce these environmentally friendly paper products to the U.S. carry out and fast food industries.”

About Sugarmade, Inc.

Each year approximately four billion trees worldwide are cut down to make paper.  At Sugarmade we believe that is four billion trees too many.  Sugarmade paper is 100% tree-free and made of bagasse, a residual by-product of sugarcane, and bamboo, both rapidly renewable resources. The paper is acid free and is 100% compostable and recyclable. Products include printing, writing and copy paper, among other items, which Sugarmade has begun marketing in the United States and intends to market on a global basis. Based in San Francisco, California, Sugarmade ensures superior quality through rigorous testing by nationally recognized testing organizations.  Sugarmade paper can be purchased online at Officemax.com or at http://www.officemax.com/office-supplies/paper/copy-multipurpose-paper/product-prod3450808.

About CarryOut Supplies.Com

CarryOutSupplies.com is a producer and wholesaler of custom printed and generic takeout supplies.  CarryOut, which services more than 3,000 takeout establishments, restaurants and other food service operators, is headquartered at 167 N Sunset Ave, City of Industry, CA 91744, with two additional warehouse locations in Southern California.  Additional information on the company can be viewed at http://www.carryoutsupplies.com/.

Contact:
 
info@sugarmade.com

 

Source: Sugarmade, Inc.

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