Xstream Beverage Group, Inc. Has Acquired Buzzy's Ice Coffee.Business Editors DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla.--(BUSINESS WIRE)--May 2, 2002 Xstream Beverage Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XSBG.OB) announced today that it has acquired Buzzy's Ice Coffee out of San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA. Buzzy's Ice Coffee is one of the oldest and most respected ready-to-drink (RTD RTD returned to duty (US DoD) RTD Rated RTD Ready to Drink RTD Richmond Times-Dispatch RTD Regional Transportation District RTD Research, Technological Development RTD Research and Technology Development RTD Real-Time Data ) brands in the marketplace today. Buzzy's was founded by Larry Twombly (Buzzy) in 1997. "We have a great niche in the beverage industry that seems to be catching on more and more. I believe the management team that Xstream Beverage has put in place will take Buzzy's to the next level and I look forward to joining the Xstream team," says Twombly. "This is truly exciting times for us," Twombly added. Buzzy's Ice Coffee will be a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Xstream Beverage Group, Inc. based in Deerfield Beach, FL. "I always said from day one that Buzzy's is a diamond in the rough and we are thrilled to have Buzzy's as our first acquisition. We have great plans for Buzzy's," says Steve Haglund, 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. , Xstream Beverage Group, Inc. Ready-to-drink (RTD) coffee has become one of the fastest growing segments in the beverage industry such as Starbucks Frappacino, which is a joint venture with Pepsi Cola (PEP), and Planet Java Planet Java is a small coffeehouse chain based in Fresno, California, with additional locations in nearby Clovis and Madera. Currently, it operates three walk-in locations, two drive-thrus, one location inside Fashion Fair Mall, and three carts, two of which service California , which is owned by Coca Cola (KO). Twombly has signed a three-year employment contract and will continue to serve as president of Buzzy's Ice Coffee. Xstream Beverage Group, Inc. was founded to acquire and manage bottling distributions and sales companies in the beverage industry. This News Release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Securities Reform Act of 1995 or subsequent updates or revisions thereto. Actual events or results may differ from the company's expectations on a negative or positive basis, and are subject to a number of known and unknown risk and uncertainties. Risk factors that may affect the actual results achieved by the company are listed in the company's SEC filings, which can be obtained at http://www.sec.gov. Investors should seek professional investment advice on this or any security. |
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