News

US: Iconic Brands to buy Specialty Beverage and Supplement

Most popular

COVID is opening up aged spirits to a new world

How COVID has changed consumers' shopping habits

Pernod Ricard Performance Trends 2016-2020 - data

PepsiCo's Driftwell launch a seachange for drinks

how big were online sales in lockdown? - analysis

MORE

Iconic Brands is to enter the non-alcoholic drinks market with the purchase of Specialty Beverage and Supplement (SBS).

//i4.aroq.com/1/iconic_brands.jpg

US-based SBS produces and distributes functional drinks, energy drinks, sports drinks, wellness beverages, RTD iced teas and vitamin enhanced kids’ drinks.

Iconic Brands said on Saturday (17 July) that it has signed a letter of intent to acquire SBS.

It said that it sees the acquisition as a “rebirth and expansion” of its business plan from being strictly a developer of premium alcoholic beverage brands to a full-service beverage company.

However, only a letter of intent has been signed so far, with no definitive agreement being entered into by either party.

In addition to the letter of intent, Iconic said it has solicited its largest shareholders for consent to increase the authorised shares and implement a forward stock split of five to one, with the anticipation of attracting shareholders and creating additional liquidity for its stock.

“Iconic will also be entering the brand development and licensing aspect of the beverage industry, creating product for individuals or corporations, from concept to completion, in both the alcoholic and non-alcoholic markets,” the firm said in a statement.

“Iconic plans to do this through development and licensing deals for fees, royalties and equity,” it added. “Iconic believes this will be an immediate source of additional revenue and cash flow, and will increase the visibility of Iconic.”

New York-based Iconic Brands signed a supply deal with Stoller Wholesale Wine & Spirits in February in a bid to enhance its presence in the US state of Illinois.


Related Content

Alcohol brands must do battle over generational trends and sustainability uncertainties – GlobalData comment

Alcohol brands must do battle over generational trends and sustainability uncertainties – GlobalData...

Amber Beverage Group ups UK presence with Indie Brands stake buy

Amber Beverage Group ups UK presence with Indie Brands stake buy...

Molson Coors Beverage Co to launch probiotic seltzer & nootropic in non-alc push

Molson Coors Beverage Co to launch probiotic seltzer & nootropic in non-alc push...

Coca-Cola European Partners basks in 'total beverage' future – Analysis

Coca-Cola European Partners basks in 'total beverage' future – Analysis...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?