Rheingold Brewery Sold

Drinks Americas Holdings Ltd. has signed a letter of intent with Rheingold Brewing Co. for the purchase of Rheingold Beer.

Rheingold beer, a New York City brand established in 1883, is now produced under an agreement with F.X Matt Brewing Co. When the deal closes at the end of November, Drinks Americas will be the exclusive producer and marketer.

(See earlier story.)

Norm Snyder, president of Rheingold, said in a statement, "The board members and shareholders of Rheingold feel that the opportunity to be a part of the overall Drinks Americas business model increases our chance to add value and build a strong Rheingold brand in both the Metro New York market and, over time, grow to an expanded market base."

Drinks Americas owns, markets, and distributes alcoholic and non-alcoholic beverages. Its portfolio includes Willie Nelson's Old Whiskey River Bourbon, Roy Yamaguchi's Y Sake, Aguila Tequila, Normans Wines from Australia and Newman’s Own Soda’s.

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