V-Net Increases Ownership of Meritage Wines
Wednesday March 30, 1:57 pm ET
BLUE ISLAND, Ill. & RANCHO CORDOVA, Calif.--(BUSINESS WIRE)--March 30, 2005--V-Net Beverage, Inc (Pink Sheets:VNTB.PK - News) and Meritage Wine Brokerage announced today that V-Net is exercising its option to further its ownership in Meritage. V-Net's increased equity position in the company provides V-Net a definitive development and distribution role of Meritage's new organic herbal infused line of wines.
Robert Corr, President of V-Net stated: "We have seen first hand at the EXPO-WEST trade show earlier this March increased use of botanicals in beverages, which continues growing every year. Herbal infused wines are the emerging wine trend, with huge revenue potential proven by the major's interest in producing these product types. Herbal infused wines is V-Nets natural product extension. This opportunity is the next trend. All our information indicates that herbal infused wine is the niche category we can capitalize on."
Meritage's President/CEO James Clements states, "We are thrilled that V-Net chooses to continue to exercise its acquisition option to take advantage of the herbal wine opportunity. V-Net and Meritage's individual expertise form the perfect alliance to service the scale that is on the horizon."
Increased ownership allows V-Net to utilize Meritage's expertise in sourcing, distribution and marketing of domestic & imported wines. Both companies are pleased with the increased commitment and view this agreement as the catalyst to move the development of the new organic herbal wines to the forefront.
