LOS ANGELES, Oct. 2, 2012 (GLOBE NEWSWIRE) -- Drinks Americas Holdings, Ltd., ("Drinks" or the "Company") (OTCBB:DKAM), a leading developer and marketer of beverage products, consolidated its administrative and distribution operations at the Los Angeles facilities of Worldwide Beverage Imports, LLC ("WBI") on Sept. 7, 2012, and engaged RedChip Companies, Inc. ("RedChip") to lead its investor relations efforts.
"The consolidation of operations at WBI's West Coast national shipping and receiving center streamlines our operations, reduces overhead, and creates tremendous efficiencies for our Company," stated Federico Cabo, chairman of the board for Drinks. "With this move, we can expedite order processing, providing faster service to our distributors and their customers. We also believe we will realize operational overhead savings of up to 45% from the consolidation, which will translate straight to the bottom line, creating additional value for our shareholders."
"We are also pleased to announce the engagement of RedChip," continued Mr. Cabo. "As our operational performance continues to improve, we believe providing transparent communication with our current and prospective shareholders is a necessary and timely step in our corporate development. We chose RedChip based on their strong track record of producing results for emerging growth companies."
Dave Gentry, president of RedChip, stated, "With several well-known brands, including its popular KAH Tequila and venerable Rheingold Beer, and impressive growth prospects in the $22.7 billion spirits market and $43.7 billion beer market, Drinks represents a tremendous opportunity for our network of retail and institutional investors. We are excited to initiate an investor relations program for Drinks."
About Drinks Americas
DKAM develops, owns, markets, and nationally distributes alcoholic premium beverages. In June 2011, the Company entered into a sales, distribution and licensing agreement with Worldwide Beverage Imports, LLC and is now selling and distributing KAH® Tequila, Agave 99® Tequila, Rio Bravo Beer, Crazy Pig Mexican Ale and Chili Devil Beer. The Company also markets Willie Nelson's Old Whiskey River Bourbon, Olifant Vodka, receives a royalty for Kid Rock's American Badass Beer and Damiana Mexican Liqueur, and owns and distributes Rheingold Beer.
Except for the historical information contained herein, the matters set forth in this release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.