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RSHN - RushNet, Inc. - eWater & Ginseng beverages
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[QUOTE]Originally posted by YellowSubmarine: [QB] [b][i] RushNet Inc. Enters Into Agreement to Purchase Chicago Beverage Distributor[/i] BLUE ISLAND, Ill., Aug 04, 2006 (BUSINESS WIRE) -- RushNet, Inc. (Pink Sheets:RSHN), the Chicago-based marketing company for Rush Beverage Co. and brand owner of e-water(TM), announces the signing of a Letter of Intent to Purchase Garden Beverage, Inc. Garden is an established, privately held specialty beverage distributor based in Chicago with over 2000 retail accounts.[/b] Garden Beverage, founded in 2003 and has grown exponentially since its inception. The distributor projects 2006 sales to exceed $5.4 million and its customer base of over 2000 accounts is growing. Garden Beverage's distribution encompasses the Metro-Chicago market and extends into Northwest Indiana - distributing over 12 brands (62 items), with Arizona Tea as its flagship. Under the terms of the agreement, RushNet enters into a 90 day due diligence period with Garden Beverage, wherein the company's financials are assessed along with operations and sales strategies. During this period, Rush also determines the synergies that can be leveraged using Garden's distribution of Rush's present brands to their captive audience. RushNet plans to incorporate Ginseng Rush(R), Ginseng Rush XXX(TM), Rush Cola(TM) and e-water(TM) into the Garden Beverage system throughout the due diligence period. The strategy allows RushNet to develop new DSD (Direct Store Distribution) customers and refine the sales and marketing programs so they can be replicated nationally. RushNet also sees great potential for introduction of its single use energy supplement products, through Garden with their C-Store and Gas Station customer base. President & CEO of RushNet, Inc. Bob Corr remarks: "We feel this was always the direction we wanted to take, but could not find the right fit until we found Garden, and we've been watching them for six months. Distribution is the key to growth, success and longevity in the beverage industry. Controlling your distribution is controlling your destiny. This is the paradigm that is proven in this industry over and over, most recently with Hansen Beverage's success story. Hansen's (HANS) built their distribution in their own backyard (California) and expanded nationally. The rest is history as they've grown to over $350 million in sales and with a share price in the $40 range. Our plan is to do the same, starting with the Chicago market. Chicago is our hometown and we plan to develop it as our launching point." This is a significant milestone in the company's future, as well as bonanza for our stockholders. The purchase of Garden Beverage gives RushNet, Inc. access to the large and rapidly growing Chicago Hispanic market, and it intends to leverage its recent Mexican distribution success here with its array of beverages. See today's Chicago Tribune's article on the market's dynamics. Hispanics Propel Growth in Suburbs - Chicago Tribune, 4 August 2006 [URL=http://www.chicagotribune.com/search/dispatcher.front?Query=hispanics+]www.chicagotribune.com/search/dispatcher.front?Query=hispanics+[/URL] propel&target=article (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) SOURCE: RushNet, Inc. CONTACT: RushNet, Inc. Robert Corr, 708-389-6625 rushbev********** [URL=http://www.enjoytherush.com]www.enjoytherush.com[/URL] . [/QB][/QUOTE]
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