Brunton Vineyards Receives Letter of Intent from Zhejiang Ouhai International Trade Corporation for Distribution of Its Wines in China.
SAN FRANCISCO -- Brunton Vineyards, Inc., a division of Brunton Vineyards Holdings, Inc. (Pink Sheets:BVYH) announces that it has received a Letter of Intent from Zhejiang Ouhai International Trade Corporation (ZOITC) for the distribution and delivery of a minimum of 1,200 containers per year of the company's wine brand, Addison Cole. The proposed transaction translates to approximately 1,000,000 cases of wine for the year, with an approximate annual contract value of $80,000,000. The first purchase order is scheduled to be received by mid to late April 2007, once details are finalized pertaining to label design and compliance specific to the Chinese market.
ZOITC has requested a wide spread of wine varietals which will include a variety of the company's wines beginning with the Addison Cole brand - Merlot, Cabernet Sauvignon, Zinfandel, and Chardonnay, with several other varietals such as Syrah, Pinot Noir, Pinot Grigio and Brunello as possibilities later on. President of Brunton Vineyards, Brian McGonigle, comments, "We were told that there are approximately 400 million wine drinkers in China, making it one of the largest wine markets in the world. We see this transaction as the beginning of a long relationship with the people of China and we welcome the opportunity to share our passion for making great wine with those who appreciate and enjoy drinking great wine. We are honored that Ms. Sun and her company has selected Brunton Vineyards as a key import partner for the distribution of California wines to China."
Sherry Sun (Qui Zhi Sun), of Zhejiang Ouhai International Trade Corporation, comments, "After looking at many California wine companies and tasting their wines, we felt that Brunton Vineyards was the right partner for fulfillment of our needs to import and distribute wine in China. We tasted their wines and found them to be of superior quality, competitively priced, and with taste profiles that fit the needs of the Chinese wine consumer." Zhejiang Ouhai International Trade Corporation will distribute wine from Brunton Vineyards to locations in Beijing, Shanghai and Hong Kong. Sherry Sun is also currently the Chief Representative and Trustee in the Beijing office for The American Academy of Hospitality Sciences, New York.
Commenting on his company's distribution of wine to China, Geno Brunton, Chairman / CEO, stated, "I have been deeply involved in Chinese culture for many years of my life and feel that my affinity and connection with the people of China has come full circle. We are grateful to have this opportunity to serve our friends in China and cultivate a long standing relationship with the people of such a great nation as they welcome our wines from California."
About Brunton Vineyards
Brunton Vineyards is a wholly owned subsidiary of Brunton Vineyards Holdings, Inc., a public company based in San Francisco, CA, trading under the symbol BVYH. The company currently has several wholly owned subsidiaries: Brunton Vineyards (with current brands - "Brunton" and "Addison Cole"), VinoVenue, LLC and Swig, Inc. Management plans to add shareholder value by increasing distribution of its products within the US and global markets, expanding the VinoVenue retail concept through domestic and international company owned expansion and licensing agreements, including the acquisition of top tier, high quality producing vineyards, wineries and wine brands. Competitors to Brunton Vineyards are Constellation Brands (NYSE:STZ), Scheid Vineyards (pinksheets:SVIN.PK) and 360 Global Wine Company (OTC BB:TSIX.OB). Please visit www.bruntonvineyards.com for more information.
About Zhejiang Ouhai International Trade Corporation
Zhejiang Ouhai International Trade Corporation (ZOITC) was established in 1985, a state-owned enterprise, located in Wenzhou City. The company specializes in import and export trade. During the past 2006, ZOITC made export sales of USD$200million.
Zhejiang Ouhai International Trade Corporation also has more than 20 years experience in the auto parts field with strong product lines of electric fuel pumps, fuel pump strainers, window motors, auto door lock actuators, starters, alternators and its components, ignition coils, Al Radiators and more. The company operates this division under the name Cosun Auto Parts, Ltd, with facilities of 11,000 square feet with more than 300 employees and products in more than 40 countries.
Forward Looking Statements
This press release contains forward-looking statements regarding the future results and performance of Brunton Vineyards Holdings, Inc. and Brunton Vineyards, Inc, including statements regarding returning to growth and profitability, increasing share and improving market position. These forward-looking statements involve risks and uncertainties and actual results could differ materially from those predicted in any such forward-looking statements. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements. The realization of any or all of these expectations is subject to a number of risks and uncertainties and it is possible that the assumptions made by management may not materialize. Statements in this press release may involve risks and uncertainties; actual results may differ from the forward-looking statements. Sentences or phrases that use such words as "believes," "anticipates," "plans," "may," "hopes," "can," "will," "expects," "is designed to," "with the intent," "potential" and others indicate forward-looking statements, but their absence does not mean that a statement is not forward-looking. Factors that could have a material and adverse impact on actual results are described in the Company's annual report on Form 10-K filed with the Securities and Exchange Commission under the heading "Risk Factors." The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.