VuQo CEO thinks he can get more than $40M for the company
Letter to Shareholders Regarding VuQo Vodka Buyout Offer and Further Updates From VuQo Holdings Corporation's CEO
NEW YORK, NY--(Marketwire -11/19/11)- VuQo Holdings Corporation (Pinksheets: VUQO.PK - News) -
To our Shareholders,
I would like to give you a brief update on VuQo along with my thoughts on the current $40 million buyout offer by The Mackay Group Limited.
First off, it is no secret that my first priority is to concentrate on VuQo as a brand. We have worked hard and are seeing success with brand exposure, as I am sure that you have seen much promotions and press featuring VuQo. The original plan for 2011 was to focus on building the brand and setting up distribution. But with the recent product in New York and Nevada and considering how difficult it is to convince distributors to take a risk on a new product in the current economic environment, we are very excited to have improved our sales from last year and to have increased our distribution throughout the US.
Furthermore, we are in the process of adding distributors in the US to begin 2012. We are also negotiating with importers from Japan, China, Poland, Germany, and Australia, bringing us closer to our goal of VuQo becoming an international brand.
Taking over the public company, Bona Coffee Holdings Corporation, is further proof of our management team's ability to take calculated risks to help solidify our structure in our efforts to reach our goals. We are still in the process of consolidation and are diligently fixing some of the skeletons the former management team of BCHC left behind. We expect to complete these transitions in the coming weeks and start 2012 fresh.
Needless to say we are excited about the direction the company is headed.
In regard to the latest offer to buyout the VuQo Premium Vodka, the Mackay Group expressed interest in the brand, making a cash offer for a full buyout of the VuQo. This is not the first time that VuQo Vodka has had a buyout offer and with our initial success, it won't be the last. Our previous bidders are currently advising us to further grow our distribution channels, increase our case volume, and raise our brand's value in the market place. We are of course pleased to have gotten an initial buyout price of $40 Million. But the developments of our company are turning out better than expected and my personal feeling is that I am not convinced that now is the time to sell.
Regardless, we are still going through some due diligence necessary to evaluate the offer. The Mackay Group is currently looking at our company closely; specifically production, sales, and marketing, and in turn, we are taking a look at their company and seeing what their capabilities are. We will make our decision soon.
Richard O. Cabael
President/ CEO
VuQo Holdings Corporation
CONTACT:
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