Santa Ana, Calif., Jan. 29 - Access Beverage, Inc. today announced that it signed a Letter of Intent for the acquisition of a 50% stake of a leading European vodka company, Diamond Wodka.
Diamond Wodka brands include: Diamond Wodka™ (the third best selling vodka in Holland and Belgium, and Diamond Red, the number one selling item in its category), along with its North American super premium counterpart products Simply RAW Vodka™ and Simply Cocktails™ which comes in two flavors: blood orange red and lime.
Under the terms of the agreement, Access Beverage is expected to secure joint ownership of all brands, worldwide trademarks, intellectual properties, import/distribution rights, profits of the operation including delivery of other products produced by the Simply Vodka BVBA. Access Beverage has entered into the due diligence stage of the process. In addition, Access Beverage retains the exclusive license for all current and future Simply products produced in North America.
Commenting, Mr. James Moeller said, “We are extremely pleased that we have reached agreement in principle with Diamond Wodka. They are an emerging brand leader in Europe and have developed a unique diamond filtration process that produces an excellent, high quality, super premium positioned vodka line that continues to experience substantial growth in the European marketplace. I believe this is the right deal at the right time; particularly in the current economic climate, as historically the wine and spirit sector has achieved considerable growth during recession years. We are in the right business for growth and I am confident that our brand lines will see increased global distribution and revenues throughout 2009.”
Access Beverage president, Ms. Diane Svehlak, added, “The outlook for our company is very strong. We have consistently delivered high quality wine and spirit brands to the consumer and will continue to do so. We look forward to concluding what I consider to be a significant acquisition for Access Beverage as we market and distribute our brand lines to existing and new markets worldwide.”
Following the recent announcement of the formation of the Board of Advisors, it was confirmed that Access Beverage expects to announce key members of the board within the next week.