NEW YORK, Nov. 29, 2011 /PRNewswire/ -- Premier Beverage Group (OTC: PBGC) announced today that it has entered into an agreement with Universal Brands Corporation to purchase certain captive beverage brands and operating programs.
"Upon concluding this agreement, Premier Beverage Group will be adding MONSOON and CareOne Energy Booster to our captive brand inventory," said Fouad Kallamni, Premier Beverage Group's President. "The addition of these strong brands, each of which has had success in the marketplace, provides a solid foundation for our recently announced captive brand business line. In addition, each of these brands has a solid operating history as well as the ability to grow with product line extensions at each of the retailers carrying these lines, now and in the future."
MONSOON is an energy drink packaged in a robust 16oz aluminum can offered in both original and sugar free flavors. MONSOON can currently be found at all of the approximately 100 Roundy's Supermarkets in the Midwest, operating under the banners Pick n Save, Metro Market, and Marianos.
CareOne Energy Booster is 2oz energy shot offered in a convenient two pack at more than 375 Stop & Shop stores located throughout New England, New York and New Jersey.
"The acquisition of these well known brands," Kallamni explained, "puts Premier Beverage Group's new captive brands product lines in business right out of the gate. We are now well positioned at a range of top regional retailers. This placement gives us a credible operating base, along with a track record to continue to grow our captive brands business."
The agreement is a non-binding letter of intent subject to definitive documentation. Premier Beverage Group has agreed to purchase the above assets, including trademarks, operating programs, and certain inventory, in return for a $200,000 promissory note and the issuance of 1,000,000 restricted shares of its common stock.
About Premier Beverage Group
Premier Beverage Group (OTC: PBGC) is a holding company that - through its subsidiary, OSO Beverages - owns, develops, markets and distributes high-end premium functional beverages. Premier Beverage Group's flagship brand, OSO, is a premium energy beverage offered primarily to on-premise accounts. OSO - offered in both regular and sugar-free flavors - is produced in Austria, using only the finest ingredients - resulting in a clear, crisp energy beverage and an up-market consumer experience. For more information on Premier Beverage Group, please visit www.premierbeveragegroup.com. For more information on OSO Beverages, please visit www.osobeverages.com.
This press release, within the meaning of the Private Securities Litigation Reform Act of 1995, contains forward-looking statements involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on a limited number of suppliers, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, as well as the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
For more information, contact:
Ned Barnett, Barnett Marketing Communications
(702) 561-1167
ned@barnettmarcom.com
Investor Relations
(646) 820-0630
ir@premierbeveragegroup.com
SOURCE Premier Beverage Group
