Panache Beverages, a New York- based alcoholic beverage company that specializes in the development, global sales and marketing of spirits brands, has closed a $3.5m debt financing to support the growth of its business in new and existing markets in 2013.
On 27 December 2012 and on 15 February 2013, the company filed Form 8-K with the Securities and Exchange Commission (SEC) with complete details of the transaction. Form 8-K is a report, which companies must file with SEC citing any major event that shareholders must know.
The funds will be used by the company to come up with new marketing strategies to meet the growing demand of its products, including Wodka Vodka and Alibi American Whiskey. It also plans to expand the distribution footprint of its portfolio.
Panache Beverages CEO James Dale said they have completed the financing to expand their product lines in the US and are also planning to grow their distribution network around the globe.
"The outlook for 2013 and beyond is very positive as we continue executing on our business plan and expanding the footprint of our product lines," Dale added.
