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Gourmet's Choice Coffee Co. Completes Acquisition of International Beverage Development Corporation;.

To Distribute Monarch Beverages in Vietnam

NEW YORK, Oct. 12 /PRNewswire/ -- Gourmet's Choice Coffee Co., Inc., (OTC Bulletin Board: GMCH) announced today that it has acquired 100% of the outstanding stock of AmViet Development Corporation ("AVDC") from International Beverage Development Corporation in exchange for sixty million (60,000,000) shares of Gourmet's Choice Coffee Co., Inc. restricted common shares.

International Beverage Development Corporation is a Delaware corporation which owned 100% of AmViet Development Corporation, ("AVDC"), a Bahamas corporation. AVDC is the owner of 70% of AmViet Mineral Water Company, a Vietnam corporation, which is licensed by the Government of Vietnam to produce water, mineral water and beverages in Vietnam. The Quang Tri Beer Factory has contributed the plant and land for their 30% ownership. The plant is located in Quang Tri Province in Vietnam.

In addition, AVDC is the licensee from the Monarch Beverage Company for the country of Vietnam. The Monarch license enables AVDC to sell the Monarch franchise products, such as America Cola(R), Dad's Old Fashioned Root Beer(R), Kick-A-Poo Joy Juice(R), and Bubble Up(R), in the country of Vietnam. AVDC has been in Vietnam for over three years and has established a network of distributors for the products of this plant. The joint venture will have ownership of the land, buildings, equipment, business, water rights, exclusive rights to the spring water, mineral water springs, goodwill, customer lists, customers and all accounts receivable in Vietnam. The Monarch Company, the 7th largest soft drink franchiser in the U.S., is expected expand the license in Vietnam to also include other well-known beverage brands including Dr. Wells(R), Dad's Old Fashioned Cream Soda(R), Frostie Root Beer(R), Nesbitt's Strawberry(R), Nesbitt's Lemon-Lime(R), Nesbitt's California Sun Tea Lemon(R), Orange Kist(R), and several flavors of Sun Crest(R), Quench(R), and others.

The Company stated that the acquisition of AmViet Development Corporation will add about $3,200,000 in assets, including the land, buildings, and equipment located in Quang Tri, Vietnam, to the Company's balance sheet.

In addition to the acquisition of assets, the Company is gaining the services of experienced beverage management executives including Wayne Johnson and Robert Price. Mr. Johnson is the founder of The Vivant Group, Inc., a company which develops quality waters and value-added specialty beverages for international markets.

Mr. Johnson has over thirty years experience in the beverage business, including the majority ownership of Mr. Soft Drink and he established the Sun Mountain Bottling, Inc. company.

Mr. Price has more than 20 years beverage experience, including more than 10 years with PepsiCo, Inc., where he was Vice President of the New York operation and managed over 500 employees and was responsible for $125 million in annual sales.

To receive a Corporate Profile and/or a complete investor package on Gourmet's Choice Coffee Co., call Fifth Avenue Communications at 800-992-6616 or visit their web site at: http://www.o-c-s.com/fifth. Or call the Company at 212-398-7833.
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Publication:PR Newswire
Geographic Code:9VIET
Date:Oct 12, 1998
Words:496
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