FAIRFIELD, N.J., Nov. 19 /PRNewswire-FirstCall/ -- Bergio International, Inc. (BULLETIN BOARD: BRGO) announces today that it has entered into a deal to acquire famous Italian designer Mario Panelli.
Mario Panelli reported $1.5 million in inventory, $1.4 million in sales for 2008, with moderate earnings. Bergio will acquire the Company for a liquidated inventory cost of $1,250,000 in cash.
"Bergio is very excited to sign a Letter of Intent to acquire famous Italian designer Mario Panelli. Mario Panelli has been in business for over 40 years and is known internationally for his designs. This acquisition will give Bergio exposure into the international markets," stated Berge Abajian, CEO of Bergio International, Inc.
About Bergio International, Inc.
Bergio is entering into its 20th year of operations with boutique, upscale jewelry stores. It currently sells its jewelry to approximately 150 independent jewelry retailers across the United States. Bergio has spent millions in branding the Bergio brand through tradeshows, trade advertising, national advertising and billboard advertising since launching the line in 1995. Bergio has manufacturing control over its line as a result of having a manufacturing facility in New Jersey as well as subcontracts with facilities in Italy and Bangkok.
We have established Bergio International as a holding company for the purpose of acquiring well-established jewelry design and manufacturing firms who possess branded product lines.
Additionally, Bergio intends to acquire design and manufacturing firms throughout the United States and Europe. If and when they pursue any potential acquisition candidates, they intend to target the top 10% of the world's jewelry manufactures that have already created an identity and brand in the jewelry industry.
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
http://www.bergio.com/
Bergio International, Inc.
CONTACT: Charis C. Harris, +1-646-688-5823
Web Site: http://www.bergio.com/
