VuQo Holdings has recently received a letter of acquisition, following an extensive due diligence process and is subject to the fulfilment of a number of mutually agreed upon conditions.
Commenting on the offer, VuQo CEO, Rich Cabael, said, “The proposed transaction is a sign of confidence in VuQo Holdings, our brands, and the Philippine wines and spirits sectors. Our goal has always been to create shareholder value through brand recognition and growth in case volume. This latest development is a remarkable indicator of the direction we’re headed.”
The offer is estimated to be valued in the region of USD$30-40m. VuQo continues to gain brand exposure with the recent success at the Playboy Mansion, The New York Launch, and participation at the 2011 Emmy’s Secret Room gifting suite along with many high profile events slated for October, November, and December. That combined with new distribution in New York, New Jersey, and Nevada (US), including the potential for three additional states this year shows the momentum picking up speed, the company said.
Source: VuQo Holdings
© FoodBev Media Ltd 2024