US: Premier Beverage Group to buy Monsoon, CareOne Energy drinks
Premier Beverage Group has agreed to acquire two drinks brands from Universal Brands Corp in the US.
US-based Premier Beverage has agreed to acquire the Monsoon energy drink and CareOne Energy Booster, the company said this week. This is in return for a US$200,000 promissory note and the issuance of 1m restricted shares of Premier's common stock.
The agreement is a non-binding letter of intent subject to "definitive documentation", Premier said. In addition to the two brands, Premier has purchased trademarks, operating programmes and existing inventory.
"Upon concluding this agreement, Premier Beverage Group will be adding Monsoon and CareOne Energy Booster to our captive brand inventory," said Premier Beverage Group's president, Fouad Kallamni. "The addition of these strong brands, provides a solid foundation for our recently announced captive brand business line."
Captive brands sit between the private-label and branded segments in the off-trade. Typically, they have a strong upfront relationship with the retailer but receive more marketing support, and so gain better margins, than a traditional private-label product.
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