Wilton liquor wholesaler-distributor Drinks Americas Holdings Ltd. says it is swapping equity to acquire another distributor’s lineup of 39 liquor and beer brands.
Drinks Americas agreed to a deal in which wholesaler Worldwide Beverage will obtain 125 million shares of common — a 49 percent stake — in exchange for import and distribution rights to 39 brands in Worldwide’s portfolio.
These include Kah Tequila, Agave 99 and Ed Hardy Tequila, and Mexicali Beer, Red Pig Ale, Rio Bravo Beer and Chili Beer.
Full financial terms weren’t disclosed.
In addition Worldwide will put $1.5 million in capital into Drinks Americas.
As part of the transaction, Federico Cabo, a principal in one of Mexico’s biggest brewers and tequila makers, will take a seat on Drinks Americas’ board. He will be joined by Richard Cabo, Leonard Moreno, and Federico Cabo Jr.
Drinks Americas’ current management also committed to remaining aboard for at least the next three years.
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