A Florida provider of an exercise-recovery dairy beverage has taken a 51 percent stake in the World of Beer restaurant opening later this month in West Hartford, according to U.S. Securities & Exchange Commission filings.
A subsidiary of Attitude Drinks Inc., an OTC Markets-traded company that sells Phase III Recovery beverages, will pay $1.2 million for its stake in the location. Attitude formed the subsidiary, called Attitude Beer Holdings Co., on Dec. 24 with German and Florida investors.
The subsidiary will also have the option to become a 51 percent owner of any new World of Beer franchises developed by a development group that holds the World of Beer rights to Connecticut and part of Massachusetts.
Attitude Beer Holdings also has the option to buy into World of Beer’s first Connecticut location, in Stamford.
The franchising group, New England WOB LLC, is headed by Florida developer Glenn E. Straub, who appears set to purchase the bankrupt Revel Casino Hotel in Atlantic City, N.J.
Straub has a history of purchasing distressed properties in Florida, from polo clubs to stadiums.
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