InterNatural Waters & Beverages in merger agreement to acquire Splash Waters International Inc.LONDONDERRY, N.H.--(BUSINESS WIRE)--June 1, 1995--InterNatural Waters & Beverages Corp. (NASDAQBB:IBEV IBEV Igreja Baptista Esperanca Viva (Faro, Portugal) .U) today announced the signing of a merger agreement whereby InterNatural will acquire privately-owned Splash Waters International Inc. of Daytona Beach Daytona Beach (dātō`nə), city (1990 pop. 61,921), Volusia co., NE Fla., on the Atlantic coast and Halifax River (a lagoon); inc. 1876. Center of a rapidly urbanizing area, in a region settled by Spanish Franciscans in the 17th cent. , Fla. Splash markets bottled waters in the Florida, California, and other selected markets. The merger/acquisition agreement was achieved through the combined efforts of the two CEO's, Ruly rul·y adj. ru·li·er, ru·li·est Neat and orderly: "A small, ruly beard balances his hair" Whitney Balliett. Lora (IBEV) and Stephen Cejner (Splash). Upon completion of the acquisition, Stephen Cejner, Splash's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and Joseph Comacchio, a Splash Director, will join the IBEV board of directors. While Splash is still in its developmental stage, it has recently made significant inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ including shipping initial orders to Vons Markets (300 + stores in Southern California), as well as obtaining authorizations in Publix Stores (Florida, Georgia) and WalMart Super Stores. The transaction is subject to certain conditions including completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the merger agreement will be submitted to the respective shareholders for ratification. R. Lora, president and CEO of IBEV stated, "The potential for Brand Splash is significant. It signals a new era in the premium water business, a product with national scope, focusing on the lifestyle benefits of the category and specifically Brand Splash." Lora further stated that "the plans for Splash include a comprehensive full service vending test, as well as enhanced promotional and marketing efforts." InterNatural Waters and Beverages imports, distributes and markets "Isabelle" spring water from France. All of its current revenues are attributable to this product. CONTACT: IBEV Corp. Ruly Lora, 603/437-6075 or H.L. Lanzet Inc. Herbert Lanzet a/o Paul Holm, 212/687-0061 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion