Extreme takeover for Blavod
13 April 2012
BLAVOD Black Vodka is buying US spirits company Extreme Beverage for about £5m in an all-paper deal.
A proposed placing and open offer will raise £8m to help fund the deal and to strengthen the balance sheet of the enlarged group, which will change its name to Blavod Extreme Spirits.
Jeff Hopmayer, who founded Extreme Beverage two years ago, becomes chief executive. He made his millions from Original Scones, the company that provides Starbucks with all of its baked goods.
Evolution has been appointed broker to BES. Its shares were suspended at 57 1/2p in September.
