Iconic Beverages plans splash in functional beverages
This article was originally published in The Tan Sheet
Executive Summary
The developer and marketer of celebrity-branded alcoholic beverages such as Danny DeVito's Premium Limoncello and Tony Siragusa's YO Vodka intends to acquire Specialty Beverage and Supplement Inc., marking its first foray into non-alcoholic products. The acquisition, announced July 15, would bring Lindenhurst, N.Y.-based Iconic Brands the JoJo Good Energy drink line, as well as SBSI's portfolio of functional, sports and wellness beverages and supplements. Iconic said the deal, pending approval by both parties, represents "a rebirth and expansion of the core focus of its business plan.