NEW YORK, NY--(Marketwire - December 10, 2012) - Panache Beverage, Inc. (WDKA), an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands, is pleased to announce that it has agreed to terms with DSWE (Domaine Select Wine Estates, LLC) whereby DSWE will act as the National Exclusive Distributor in the U.S. for the newly launched Alibi American Whiskey, featuring the brand in its Classic & Vintage spirits division.The agreement further develops the relationship between the two companies; DSWE is currently the U.S. importer of Wodka Vodka.
"Domaine Select has been a tremendous partner for Panache thus far with Wodka Vodka," explained Panache CEO James Dale, "and this deal for Alibi provides us with the security and infrastructure we need to grow the brand to a six-figure case whiskey brand very quickly." The deal and contract is expected to generate approximately $10 million in revenue over 2 years.
Alibi was launched in New York, New Jersey and Florida just before the Thanksgiving Holiday and has already seen immediate success. DSWE will be working with its distribution partners to schedule selected market launches for early 2013, including Massachusetts, Georgia, Texas, Illinois, Washington State, Connecticut, Arizona and Nevada.
"We are thrilled to have this opportunity with the Panache group which will further develop our relationship," commented DSWE CEO Paolo Domeneghetti. "We believe Alibi American Whiskey is a unique and compelling brand that will see tremendous success in the whiskey category which continues to gain important market share in the U.S."
Alibi American Whiskey is a premium, 90 proof blended American Whiskey.
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About Panache Beverages, Inc.
Panache Beverage, Inc. (WDKA), based in New York, NY, is an alcoholic beverage company specializing in the development, global sales and marketing of spirits brands.The Company's expertise lies in the strategic development and aggressive early growth of its brands establishing its assets as viable and attractive acquisition candidates for the major global spirits companies.Panache intends to build its brands as individual acquisition candidates while continuing to develop its pipeline of new brands in to the Panache portfolio.Panache's existing portfolio contains three brands: Wodka Vodka (www.welovewodka.com), Alchemia Infused Vodka (www.alchemiainfused.com) and Alibi American Whiskey (www.alibiamerica.com).
For more information visit: http://www.panachespirits.com
About DSWE: Classic & Vintage
Founded in 1999, Domaine Select Wine Estates (DSWE) (www.domaineselect.com) is dedicated to fine wines and specialized spirits from around the world of the highest quality and which demonstrate excellence and tremendous character, particular to their origin. Assembled in early 2009, Classic & Vintage is the exclusive spirits division under the DSWE umbrella. The Classic & Vintage collection represents tremendous diversity in each category. DSWE is committed to transmitting the individuality of their producers; expressing diversity, tradition and character is the tenet of DSWE. Domaine Select Wine Estates was named 2010 Importer of the Year by FOOD & WINE Magazine.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward- looking statements may not occur. Further information on Panache Beverages' risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended December 31, 2011 and the Form 10-QSB filed September 30, 2012. Panache Beverages does not undertake any duty nor does it intend to update the results of these forward-looking statements.
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