LAS VEGAS, Sept. 12, 2017 (GLOBE NEWSWIRE) -- International Spirits and Beverage Group Inc., (a Nevada Corporation) (OTCPK:ISBG) is pleased to announce that the company has agreed to terms with the Aristocrat Group Corp. (OTCPK:ASCC) to acquire the assets of ASCC, which includes its signature brand, RWB Vodka.
RWB Vodka is a gluten-free, handcrafted vodka which is distilled from Idaho Russet potatoes using mountain spring water. RWB Vodka racked up its fair share of awards when it was introduced into the marketplace, including a platinum award honor at the 2014 Sip Awards.
“RWB Vodka is exactly the type of brand we were looking to add to our portfolio,” said Terry Williams, CEO of International Spirits & Beverage Group. “There is incredible upside here as this is a niche brand that is already generating revenue. With the distribution network ISBG already has in place, we should be able to quickly expand the footprint of this smooth tasting ultra-premium vodka.”
With both companies eager to complete the transaction, lawyers from both sides have made closing this deal a priority and have already made tremendous inroads in getting through the mountain of paperwork that needs to be completed and filed with the appropriate regulatory agencies.
While neither company will be immediately disclosing the terms of the deal, the recently filed reverse split by ISBG is tied to the acquisition.
“With Aristocrat trading around two cents, we had to level the playing field so to speak,” Williams said. “The beauty of the asset acquisition is that the transaction is far less complicated than a stock purchase, has tremendous tax advantages (Goodwill can be amortized for tax purposes over a period of 15 years) and we were able to specify what liabilities we were willing to assume.”
Senior management officers from both companies are hoping the deal will be completed by September 30, sooner if possible.
About ISBG: ISBG is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global
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Source:International Spirit & Beverage Group, Inc.