US: Drinks Americas completes private placement
Drinks Americas Holdings has completed a private placement, bringing in US$8m worth of investment.
The company, which develops and markets drinks including Trump vodka, said late last week that it has funded its marketing, sales and promotional programme for its product lines through the financing.
"This new capital ensures that Drinks Americas is equipped to execute our business plan on an accelerated basis and support and grow each of our icon brands," said Patrick Kenny, Drinks Americas' CEO.
"This equity funding establishes a strong net worth and, together with our credit facilities at BACC/Sovereign Bank, positions the company to anticipate and meet product demand, have substantial marketing resources, and provide for our corporate working capital needs."
Among the other brands owned by Drinks Americas are Willie Nelson's Old Whiskey River Bourbon and Bourbon Cream and a range of fruit juices under the name of US acting legend Paul Newman.
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