"We are excited by this change in our operations," said Jerry Pearring, president and chief executive officer of Global Beverage Solutions. "In addition to reducing our administrative and regulatory compliance costs, we believe that this move will provide us with greater flexibility in operating our business, including providing us with enhanced debt and equity financing alternatives. We believe that this change will have a favorable impact on Global Beverage Solutions."
Global Beverage Solutions currently owns 100 percent equity stakes in two operating companies that had gross revenues of approximately $8.3 million for the nine months ended September 30, 2007. With its change in focus to an operating company, Global Beverage Solutions intends to focus on growing the revenue of these two companies and selectively acquiring other bottled water and alternative or "New Age" beverage businesses.
About Global Beverage Solutions, Inc.
Global Beverage Solutions is focused on acquiring majority ownership interests in beverage-related companies, with a particular emphasis on companies operating in the imported bottled water and alternative or "New Age" beverage industries. Global Beverage Solutions currently operates two wholly owned beverage-related subsidiaries:
-- Aqua Maestro, Inc. -- an importer and seller of bottled water via
company-owned distribution centers to retailers and consumers in South
Florida, direct sales to retailers outside of South Florida, direct
sales to consumers generated through its Website
http://www.aquamaestro.com and sales to third party distributors.
-- Beverage Network of Maryland, Inc. -- a New Age distributor based in
Jessup, Md., which distributes brands such as Welch's and Fiji water to
retailers in Washington, D.C., Northern Virginia, and the entire state
of Maryland.
For additional information about Global Beverage Solutions, Inc., please visit http://www.globalbeveragesolutions.com.
Forward-Looking Statements
This press release may contain certain forward-looking statements, including statements with regard to the future performance of Global Beverage Solutions. Words such as "believes," "expects," "projects," "should," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and some of these factors are enumerated in Global Beverage Solutions' Form 10-K for the year ended December 31, 2006, and other filings with the Securities and Exchange Commission. Global Beverage Solutions undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Jerry Pearring
Phone: (954) 473-0850