V Group Announces the Acquisition of a Beverage Distributor
CARLSBAD, CA--(Marketwired - Mar 12, 2015) - V Group, Inc. (
The Company is located in North County San Diego and currently services over 2,500 accounts in the San Diego County area concentrating on Delis, Convenience Stores, Liquor Stores and Mom and Pop Markets. The Company currently has 2 trucks in full time operation and a third operating part time. The Company is currently a family owned business, founded by a father and son team. The Company generated just over $280,000.00 in revenue in 2014.
V Group plans to add 2 more trucks to the full time operation. V Group also plans to add at least 5 more brands to the Company's catalog of products including brands owned by both V Group and Fernhill. With the addition of more vehicles and more brands, V Group anticipates revenue in excess of $500,000.00 for 2015.
In exchange for full control and operation of The Distribution Company, V Group, Inc. has agreed to pay The Founder of The Company 100,000,000 Restricted Shares of V Group, Inc. (VGID) At the time of closing, the value of the acquisition is valued at $100,000.00. V Group, Inc. also agrees to assume the lease of The Distribution Company's office/warehouse space.
V Group, Inc. will not be taking control until April 15th, 2015. V Group will not be issuing the restricted shares until after the spin-off date for Fernhill Beverage has been announced as to not adversely affect the current share structure and current shareholders. V Group will be operating the Distributorship under a new name. The new name will be announced shortly. The Founder of The Distributorship wishes to retain the name due to the fact that it has a family reference. The Founder and the General Manager have agreed to remain with the Company for a minimum of 6 months to aid in the transition.
"We are excited about this opportunity," states Larry Twombly, President, V Group, Inc. "We initially started conversations with The Company with intentions of enlisting The Company as a vendor for our brands. After developing a relationship with the Founder, it became clear to both of us that an acquisition was in both parties' best interest. This helps us in many ways. It gives us control over our products in our backyard, giving us the ability to develop a success story that we can bring to the rest of the Country. We will also be moving our Corporate Office into their current facility."
V Group, Inc. will be updating shareholders on the Fernhill spinoff as early as next week.
"We would like to thank all the vendors, partners and shareholders for the support and confidence in the Brands and the Companies. 2015 is proving to be a very good year for all involved," states Larry Twombly, V group, Inc. CEO and President.