Liberty Diversified Holdings, Inc. Wholly-Owned Subsidiary Spirits of the South Pacific Receives Final Label Approval for Paradise Mango Rum Liqueur
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.
05/10/07 Liberty Diversified Holdings, Inc. announced that its wholly-owned subsidiary Spirits of the South Pacific has received final label approval from the U.S. Department of Treasury, Alcohol and Tobacco Tax and Trade Bureau for its Paradise Mango Rum Liqueur. Paradise Mango Rum Liqueur is the only alcoholic product available that is made from 100% Philippine rum and 100% sun-ripened Philippine mangoes. The company will begin importing the product for sale into the U.S. immediately and expects to release its initial interim financial report on the new product in November 2007.
Spirits of the South Pacific is the registered trade name for H. Markoni LLC, which was acquired by Liberty Diversified Holdings, Inc. on August 31, 2007. 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 oldest and most respected distilleries.
Commentary
In response to this announcement, Ronald C. Touchard, Chairman and CEO of Liberty Diversified Holdings, Inc., stated, "We are very excited that we have now received final label approval for our Paradise Mango Rum Liqueur, which represents the final step of the long regulatory process required for importing and distributing this completely new alcoholic beverage into the U.S. There is already a large pent-up demand for this product, both because of its unique taste and quality and because it has been available in other locales and has already won several international awards. Therefore, we expect initial sales to be brisk and to quickly add impact to Liberty's bottom line revenues and profits."
