A Wilton-based company that markets and develops beverage products said Monday that it is selling a minority stake of itself to a California importer of premium tequilas.
Drinks Americas Holdings Ltd. is selling a 49 percent stake or about 125 million shares of common stock to Worldwide Beverage Imports LLC.
In exchange, Drinks Americas Holdings will get distribution rights of Worldwide products through a series of licensing agreements between the companies.
Worldwide will also make a capital contribution in the company of about $1.5 million through cash provided by the sale of Worldwide products.
In addition, Drinks Americas has taken out a $250,000 loan to accelerate the costs involved with the deal.
Federico Cabo, principal operator of Mexico’s third largest brewery, CervecerÃa Mexicana, S. de R.L. de C.V., and seventh largest tequila distillery, Fabrica de Tequilas Finos, S.A. de C.V., will join the board of directors of Drinks Americas.
Drinks Americas develops, owns, markets, and nationally distributes premium alcoholic beverages including Willie Nelson’s Old Whiskey River Bourbon, Olifant Vodka and Rheingold Beer.
Worldwide Beverage Imports currently imports unique premium tequilas for distribution in the U.S. including: Kah, Ed Hardy, Agave 99 and others.
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