NY-based Panache Beverages in talks to buy VnC

Wednesday 25th July 2012

Panache Beverages, a New York-based liquor marketing company, is in talks to buy Auckland's VnC Cocktails, a deal that would renew ties built when the principles of the two firms sold 42 Below vodka.

The deal would give Panache access to VnC's distribution in 30 countries for its Wodka Vodka, Alchemia Infused Vodka and Alibi American Whiskey. No price was given in an announcement by Panache.

VnC was established by Shane McKillen, one of the founding shareholders of 42 Below, in 2007 after that company was sold to Bacardi. Panache was founded as the import company of 42 Below in November 2004, a partnership that ended with the sale.

VnC forecast sales of 200,000 cases for the full year 2012. The company said it has enjoyed triple digit growth in sales in the past three years.

Shares in Panache are listed on the NASDAQ's OTC market and last traded at US$1.10.

BusinessDesk.co.nz

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