AGOE Nice and put it on ice!
Amerigo eyes Le Flav acquisition
Posted on Thursday, 14 February 2013 15:20
US-based oil and gas explorer Amerigo Energy has signed a letter of intent to pick up the assets and intellectual property belonging to Le Flav Spirits, an alcoholic drinks business launched by Flavor Flav, the musician best known as a member of renowned US hip-hop group Public Enemy.
The business is active in the marketing and distribution of spirits including vodka, cognac and tequila, as well as non-alcoholic beverages such as Iced Teas.
Nevada-headquartered Amerigo has issued a statement saying it has filed the letter of intent with the Securities and Exchange Commission.
Upon completion of the transaction, the OTC Bulletin Board-quoted buyer is expected to change its name to Le Flav Spirits, thereby enabling the target to take over its current listing.
This is good news for co-founder Anthony Capomaccio, who said: "We have been discussing the idea of going public for almost a year and see this as a win-win for Flavor Flav and the brand as this will provide additional opportunities for everyone."
Jason Griffith, chief executive of Amerigo, was also quick to espouse the virtues of the deal, saying: "We are pleased to have the opportunity to acquire these assets as the brand offers multiple revenue generating opportunities.”
He went on to say the purchase would give the business a chance to pick up other brands, before concluding: “We believe the addition of Le Flav Spirits to our company will provide shareholder value and give the liquor brand the ability to launch globally."
Le Flav Spirits also hopes to draw further attention from potential investors and customers by sending its famous founder on tour to carry out appearances and bottle signings.
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