NEW YORK, NY--(Marketwired - Sep 4, 2013) - Panache Beverages, Inc. (
The acquisition of the distillery enables Panache to vertically integrate its supply chain while opening up new business opportunities for the public company. Panache expects to move production of its top-selling national spirits brands Wódka Vodka and Alibi American Whiskey to the distillery in early 2014 while adding bulk spirits production and turnkey third-party contract distillation to its business offerings. A court ruling in July paved the way for Panache to pursue these businesses after a judge dismissed Florida Distillers' effort to enjoin Panache, which then led to an end of the litigation by stipulation of the parties, approved by an order of the court.
James Dale, CEO of Panache Beverage, Inc. explains, "Beyond the tremendous asset value of the acquisition, the new distillery creates opportunity for diversification that is monumental."
The equipment at the distillery is presently capable of producing and bottling over 650,000 9 liter cases of distilled spirits annually, and improvements are already under way that will increase this annual capacity to over 1.2M cases.
The Panache Distillery is located in New Port Richey, Florida, about 40 miles outside of Tampa. The six acre property has plenty of additional space for further expansion and zoning restrictions have recently been successfully removed with the cooperation of Pasco county paving the way for the future expansion of the business at the facility.
About Panache Beverages
Panache Beverages, Inc., 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: Wódka Vodka (http://welovewodka.com/), Alchemia Infused Vodka (http://alchemiainfusions.com/) and Alibi American Whiskey (http://www.alibiamerica.com/).
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, 2012 and the Form 10-QSB filed March 31, 2013. Panache Beverage does not undertake any duty nor does it intend to update the results of these forward-looking statements.