San Francisco, CA, February 09, 2007 --(
PR.com)-- Brunton Vineyards, Inc (BV) announced today it has signed a letter of intent to acquire 100 percent of the assets and operations of San Francisco-based VinoVenue, from Know Wining, LLC. Terms of the transaction, which is expected to close in the first quarter, were undisclosed.
"The acquisition represents the solidification of major part of our overall strategy for Brunton Vineyards and transforms our young wine company into a multi-faceted company, not just making wine, but also providing wine directly to the consumer, VinoVenue, becomes a wholly owned subsidiary of Brunton Vineyards, and will undoubtedly assist us in cultivating direct and deep relationships with consumers and other wine companies alike," according to Geno Brunton, CEO of Brunton Vineyards.
"Acquiring VinoVenue is very important to our business as it sets us apart from most wine companies who generally do not have a direct to consumer retail component," said Brian McGonigle, President of Brunton Vineyards and responsible for executing the transaction. "The expansion plans for VinoVenue includes 90 more locations in 66 targeted cities in the US and over 300 are planned worldwide. We are very excited about the prospect of this opportunity to create, on a global scale, a wine company that serves its customers at every level, directly; whether its sharing with them the experience of grape harvesting and wine making at the vineyard and winery level or tasting wine at the VinoVenue lounges, our customers will truly be able to experience and enjoy wine in a different way."
The transaction is expected to be accretive to Brunton Vineyards in the first year of integration.
About Brunton Vineyards.
Brunton Vineyards is owned by Brunton Vineyards Holdings, Inc, a public-reporting company under the Securities Exchange Act of 1934, incorporated in New York and is based in San Francisco, CA. The company currently has several wholly owned subsidiaries: Brunton Vineyards [with current brands – “Brunton” and “Addison Cole”], VinoVenue, LLC and Swig, Inc. The company was incorporated as New Paradigm Software Corporation [with ticker symbol NPSC] in 1993 and changed its name to New Paradigm Strategic Communications, Inc. in 1989. Later, it changed its name to Brunton Vineyards Holdings, Inc in December 2006. The company's common stock is currently quoted on the OTC Pink Sheets under the stock symbol BVYH. Please visit www.bruntonvineyards.com for more information.
About VinoVenue.
“The Place to Taste and Experience Wine” is what the San Francisco based wine lounge is known for. Founded in 2004, previously owned and operated by Know Wining, LLC, VinoVenue has more than 100 wines from California and around the world featured. VinoVenue stretches the traditional wine bar and retail store boundaries by offering guests an exciting new concept for tasting and buying wines. For the first time, guests can serve themselves by purchasing a VinoVenue tasting card (like a debit card), inserting it into the automated wine tasting stations, selecting a wine and receiving a 1 oz. pour. Individually priced pours of more than 100 wines sourced from wineries around the globe range from $1 to $28. This "try-before-you buy" model has promoted wine education, socialization and curiosity. Please visit www.vinovenue.net for more information.
Forward Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the company's inability to accurately forecast its operating results; the company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the company's business. For further information on factors which could impact the company and the statements contained herein, reference should be made to the company's filings with the Securities and Exchange Commission, including annual reports on Form 10-KSB, quarterly reports on Form 10-QSB and current reports on Form 8-K. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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