WILTON, Conn., Nov. 18, 2010 (GLOBE NEWSWIRE) -- Drinks Americas Holdings, Ltd. (OTCBB:DKAMD), today announced that its spirits case volume was tracking ahead of last fiscal quarter by 860%. The Company's brands, which are now distributed by Mexcor International Wine and Spirits, are growing well ahead of industry numbers on a same market basis. Olifant Vodka, Old Whiskey River Bourbon, Aguila Tequila and Damiana Liqueur are all ahead of last year's case volume numbers, showing proof of model that the Mexcor distribution strategy is gaining traction.
On a May 1st through October 30 basis, the Company's spirits brands volumes are up and for the last quarter August through October 30th, the brands are tracking up 860%. The Company's royalty arrangement with Mexcor significantly lowers Drinks overhead costs and pays to the Company on a per case royalty.
J. Patrick Kenny stated, "After getting through a tough time period for the Company, now behind us, both our spirits brands and our Rheingold Beer are trending up dramatically against the backdrop of having reduced our overhead in the severest way. The combination of the revenue the two segments are generating from repeat sales for the Company are positively impacting our financial results. We expect this progress to continue over the next several quarters."
About Drinks Americas
Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities, including Willie Nelson's Old Whiskey River Bourbon and Trump Super Premium Vodka. Other products owned by Drinks Americas include Olifant Vodka, Aguila Tequila and Rheingold Beer.
For further information, please visit our new websites at www.drinksamericas.com/">www.drinksamericas.com and www.rheingoldbrewingcompany.com.
The Drinks Americas Holdings, Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7881
Safe Harbor
Except for the historical information contained herein, the matters set forth in this release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.