UK: Blavod acquires rights to Babco spirits
Blavod Black Vodka, the owner of the Blavod vodka brand, has acquired the UK distribution network of drinks company Babco Europe, along with the UK rights its energy spirit Agwa, Mickey Finn, a flavoured schnapps, and TJ's Rosas, a Tequila cream liquor.
Blavod will pay £300,000 and issue an initial 450,000 shares to acquire the rights. Further shares up to a maximum 950,000 will be allocated dependent upon performance, the company said.
The rights to the brands are under a ten-year agreement and follow an agreement in May by Blavod to import and distribute Domaines Barons de Rothschild wines in the UK.
At today's Annual General Meeting chairman Allan Shiach said: "We are already seeing the benefits from the agreement with Domaines Baron de Rothschild wines, which make a very useful contribution to overheads and we expect the new agreement to further defray costs whilst at the same time widening the appeal of the Company to retail outlets.
"In addition we expect the extension of the product range to bring forward the point when we move into profitability. The broader range of premium products extends and strengthens the market position of Blavod vodka."
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