TULSA, Okla., Feb. 1, 2007 (PRIME NEWSWIRE) -- Global Beverage Solutions, Inc. (OTCBB:GBVS) announced today that it has signed the definitive agreement to acquire Beverage Network of Maryland, Inc., a leading mid-Atlantic new age beverage distributor with revenues of $10.2 million in 2005 and an EBITDA of $426,000. According to the terms of the agreement, Xstream Beverage Network will receive a significant minority stake in Global Beverage Solutions, Inc. (OTCBB:GBVS). In addition, the acquisition is subject to a $2.0 million equity financing through GBVS. It is anticipated the closing will occur on or before February 7, 2007.
"This is a very significant development for the growth and maturation of GBVS," stated Bryce Knight, CFO of GBVS. "Aside from its current revenue and anticipated future growth, Beverage Network of Maryland will serve as a distribution platform for the Rudy Beverage line of "Flying Colors" and "Rudy Revolution."
About Global Beverage Solutions, Inc.:
Global Beverage Solutions, Inc. (GBVS) invests in a portfolio of companies that primarily engage in manufacturing, distributing, and selling beverages worldwide. Its portfolio companies include EON Beverage Group, Inc. and Rudy Beverage Group, Inc. For additional information, please visit www.globalbeveragesolutions.com or www.avcg.net.
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Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development, and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.