US: Drinks Americas ties up $10m finance deal
Drinks Americas Holdings has closed an asset-based, revolving financing facility worth US$10m with Sovereign Bank division Business Alliance Capital Company, to support existing product lines.
The beverage company, which is in the initial stages of a $5m summer launch for its new Trump Super Premium Vodka, is expanding the marketing of Newman's Own Sparkling Fruit Juice Drinks, and adding the distribution of Newman's Own Sparkling Flavoured Water and Fruit Tea to its portfolio.
Drinks Americas CEO Patrick Kenny said: "The credit facility from BACC, combined with our purchase order financing facility from Production Finance International announced last week, positions Drinks Americas to grow at a rapid pace in the coming year."
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