Blavod Extreme Spirits has extended the deadline for the proposed sale of its US unit.

The company confirmed yesterday (2 October) that it has agreed with the purchaser, Black Diamond Spirits, to extend the time for completion of the divestment of Blavod Extreme Spirits USA by one week.

The sale to Black Diamond, a company controlled by Blavod's current CEO Jeff Hopmayer, is now expected to go through by Friday this week (5 October). The transaction was approved at an EGM late last month, with Hopmayer intending to step down from his position with Blavod once the sale is complete.

The sale will reportedly cost Black Diamond US$800,000, with the company assuming liability for US$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 US$3.8m, with an operating loss of US$1.96m.