|
Power Trip Acquires Hooters Energy Drink |
|
Monday, 13 October 2008 |
Power Trip Beverages has acquired the sales and distribution rights for Hooters Energy Drink, a part of the iconic Hooters Restaurant chain and brand name. This means that Power Trip will be the distributor, sales director and assume all of the marketing responsibilities for Hooters Energy Drink worldwide. The acquisition took place in early October.
The Hooters Energy Drink brand has been built out of the well-known Hooters franchise, which has gained international recognition for its food and service. With the Hooters acquisition, Power Trip Beverages picks up several new states and distributors for sales, expanding the company's reach to an additional seven states bringing the total number of states with product availability to 24.
"Power Trip is a quickly emerging power in this category and we saw an opportunity to make a deal that made sense for both of us," says J. L. Pennington of Pennington Beverage, the licensee for Hooters Energy Drink.
"We're enormously excited about the immediate growth in our business and the access to bigger relationships that the Hooters deal affords us," says Doug Stuart, president of Power Trip Beverages. "Strategic growth that adds value to our offerings and our distributor and retailer partners is something we always seek. Also, the ability to bring aboard a broadly recognized brand like Hooters helps open doors that otherwise would have taken a longer time to open. While the efficiencies and additional sales will add to our bottom line we will also leverage our efficiencies to increase our marketing budget and sales team."
|
