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Drinks Americas Announces Joint Venture with Mexcor
Drinks Americas will Maintain Ownership, Marketing and Will Expand Celebrity Driven Portfolio
Drinks Americas Holdings, Ltd. the owner, developer and marketer of premium beverages associated with renowned celebrity icons such as Trump Vodka, Willie Nelson Old Whiskey River Bourbon, Snoop Dogg’s Olifant Vodka and Kid Rock’s Bad Ass Beer announced it has signed a production and distribution agreement with Mexcor, Inc., a producer, importer and distributor for hundreds of high quality brands nationally and internationally.
Mexcor will manage the production, importing and distribution of Drinks Americas portfolio of brands nationally while Drinks Americas continues to focus of building a portfolio of iconic brands. Drinks will develop and execute marketing and promotional strategies for Drinks Americas brands. Projections are that the agreement with Mexcor will rapidly drive additional revenues and substantially reduce overhead costs.
The terms of the 15 year agreement, state that Drinks Americas will issue Mexcor up to 12 million shares of common stock, and Mexcor will receive up to a 5% ownership interest in Drinks Americas portfolio brands, provided the parties deliver and attain certain minimum performance requirements. Mexcor has agreed to deliver five or more additional new brands to Drinks portfolio, which the companies plan to jointly acquire, develop and market.
Patrick Kenny, President and CEO of Drinks, stated, “Mexcor has available resources to support the production of Drinks brands which has been the primary barrier to our expansion. Our portfolio, added to their national sales platform, will be greatly strengthened. The agreement provides Drinks the resources to produce as much product as we can sell, as well as a national sales platform. Our sales team will be joining and become part of Mexcor. We are thrilled that this joint venture removes the impediments to Drinks rapid expansion and growth in financial strength.”
Eduardo Morales, President of Mexcor, said, ” We look forward to rapidly expanding brands like Olifant Vodka, Old Whiskey River Bourbon, Trump Vodka and the balance of their portfolio, and working with Drinks Americas. The economics and strategic fit for this venture is favorable and impactful to both companies.”
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