US: Blavod Extreme closes US sale, rejigs exec team
The CEO of Blavod Extreme Spirits has left the company.
Jeff Hopmayer has resigned his post at the drinks company, following the completion of Blavod's sale of its US unit to a company controlled by Hopmayer.
The company confirmed the move yesterday (11 October), while also announcing that it has appointed a new finance director and managing director. Company secretary William Phillips assumes the former position, with Richard Ambler becoming MD, the company said. Both appointments will take immediate effect.
Earlier this month, Blavod confirmed that it would sell Blavod Extreme Spirits USA to Black Diamond Spirits. The sale, which closed this week, reportedly cost Black Diamond US$800,000, with the company assuming liability for $3.2m-worth of debt owed by the unit.
Based in Tennessee, the US unit was acquired from Extreme Beverage Company in 2004. The subsidiary handles the marketing and selling of wines and spirits, including Blavod Black Vodka, in the US. In the year to the end of March, BES USA posted sales of $3.8m, with an operating loss of $1.96m.
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