WILTON, CT – February 25, 2008 – Drinks Americas Holdings, Ltd (OTC BB: DKAM), a leading owner, developer and marketer of premium beverages, today announced a new beverage venture in association with Grammy Award-winning producer and artist, Dr. Dre. Drinks Americas and Dr. Dre have formed a partnership to identify, develop, and market premium non-alcoholic and alcoholic beverages. The partnership’s first premium beverages will be a super premium cognac selection, followed by a unique new to market sparkling vodka (which is now being crafted). Drinks Americas and Dr. Dre also plan to enter the growing imported premium tequila category.
The venture marks the first time an iconic artist has partnered directly with a beverage company in an equity arrangement to jointly develop and market products. The deal is under the umbrella of the previously announced agreement between Drinks Americas and Interscope Geffen A&M Records.
The partnership will be the latest in Dr. Dre’s successful business ventures, which include his eleven-year old record company, Aftermath Entertainment, with artists including Eminem and 50 Cent, and his recently announced film production company, Crucial Films. The new products will join Drinks Americas’ current and growing portfolio of products including Donald Trump’s award winning Trump Super Premium Vodka, Willie Nelson’s Old Whiskey River Bourbon and Paul Newman’s Lightly Sparkling Fruit Juice Drinks and Flavored Waters.
“I’m always down for a new challenge,” said Dr. Dre. “When Drinks Americas approached me about going into business with them, I knew there was a lot of competition out there but it was the same way when I started doing music. I’m going to put the best product out there, because that’s what I do.”
J. Patrick Kenny, President & Chief Executive Officer of Drinks Americas, stated, “This is the next of several steps as Drinks assembles a range of global iconic brands and trademarks that will build substantial long term shareholder value. We are thrilled to be working with Dr. Dre, a true icon, as an owner and our partner in brands that will reflect his tastes and personality. Unlike hiring a celebrity to help grow an existing brand, Dr. Dre is an equity owner of the brands and will be involved as our partner at every stage of the process. “
Kenny added, “We expect Dre's foray into the beverage business to rival the magnitude of his success in the music business. Our plan is to be in key markets as 2008 unfolds with a superior cognac followed by selected premium spirits category entries. We have the credit facilities and production partners. Building volume with these products will take time, but the instantly recognizable branding coupled with superior quality products and Dre’s partnership start us with a competitive advantage, and a corresponding boost in value to our shareholders.”
About Drinks Americas
Drinks Americas was founded in 2004 by J. Patrick Kenny, a leading expert in beverage sales and marketing. Mr. Kenny developed his industry expertise in a variety of management positions at the world’s leading beverage companies, including Joseph E. Seagram and Sons and The Coca-Cola Company. He has also acted as advisor to several Fortune 500 beverage marketing companies, and has participated in several beverage industry transactions.
Drinks Americas develops, owns, markets, and nationally distributes alcoholic and
non-alcoholic premium beverages associated with renowned icon celebrities. Drinks Americas' portfolio of premium alcoholic beverages includes Donald Trump's award winning Trump Super Premium Vodka and Willie Nelson's Old Whiskey River Bourbon. The Company’s non-alcoholic brands include the distribution of Paul Newman's Own Lightly Sparkling Fruit Juice Drinks and Flavored Waters. Drinks Americas recently formed a joint venture with Universal Music’s Interscope, Geffen, A&M Records to develop and market beverage products.
Other products owned and distributed by Drinks Americas include award-winning Damiana Liqueur and Aguila Tequila from Mexico, Cohete Rum Guarana from Panama, and Rheingold Beer. Damiana, Old Whiskey River, Aguila Tequila and Cohete Rum are Gold and Silver Medal award winners respectively from the International Beverage Tasting Institute and the San Francisco International Wine and Spirits Competition. For further information, please visit our website at www.drinksamericas.com.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press 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.
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