Liberty Diversified Holdings, Inc. Reports Completion of Merger With H. Markoni LLC, Importer and Distributor of Alcoholic Beverages
The management teams of both companies will likely remain in place and a new Board of Directors will be formed that will include current Board Members from both companies.
04/09/07 Liberty Diversified Holdings, Inc. announced that it has acquired H. Markoni, LLC a Nevada corporation, in a stock-for-stock transaction. H.Markoni, LLC, which also does business under the name of Spirits of the South Pacific, is now a 100% wholly-owned subsidiary of Liberty Diversified Holdings, Inc. The management teams of both companies will likely remain in place and a new Board of Directors will be formed that will include current Board Members from both companies.
H. Markoni, LLC was formed in 2006 to import and distribute alcoholic beverages into the United States. The company's initial focus is on the tropical libations market, particularly the hot-selling flavored white liquors and liqueurs, with plans to expand into a complete product line within the coming year. The company has already formed a strong multi-ethnic distribution network and established solid relationships with several foreign distilleries, including obtaining exclusive rights to import and distribute products in the U.S. from one of the world's oldestand most respected distilleries. U.S. distribution networks are already in place, label approval is expected within the next few days, and the company plans to have its initial products on the shelves within the next 30-45 days.
Commentary
In response to these announcements, Ronald C. Touchard, Chairman and CEO of Liberty Diversified Holdings, Inc., stated, "We are very pleased to announce the acquisition of H. Markoni, LLC, and the retention of itsFounders, Brian and Cindy LaRosa, as CEO and President of the subsidiary. This acquisition gives us immediate entry into the highly lucrativealcoholic beverage import industry with a product line that is both unique and timely. We are committed to providing the management oversight and additional capital that will allow H. Markoni to grow more quickly and thenescalate its impact in the market place. We are very excited about the future of Liberty Diversified Holdings and H. Markoni, LLC and look forward to making additional major announcements very soon."
Cindy LaRosa, Co-Founder and President of H. Markoni, LLC, added, "We have worked very hard to develop our relationships with providers abroad as well as a solid distribution network here in the U.S. Preliminary interestfor our first product has far exceeded our initial expectations and it became clear to us that we needed to prepare ourselves now for rapid growth and expansion into new market segments. The merger of H. Markoni with Liberty Diversified Holdings provides us with the best of all possible worlds. Our current management team will remain in place to see this vision through to completion, while Liberty Diversified's management and marketing experience and access to capital markets will allow us to move forward much more quickly."
