Paradise Beverages Negotiates Sale and Purchase of Vonu Brands

BY ASHTOSH SINGH

Paradise Beverages (Fiji) Limited (PBFL) and Vonu Holdings Limited (VHL) have negotiated the sale and purchase of the ?Vonu Brands? throughout the World, including in Fiji for NZD 5 million (approx FJ 7.4 million).

Paradise Beverages will purchase certain intellectual property assets of Vonu Holdings which includes all of the goodwill and property rights in and associated with the trademarks owned by VHL, including all rights to the well-known ?Vonu? beer brand.

Both the parties have agreed all terms and conditions and are now in the process of finalising the sale and purchase agreement and have received the approval of the Fiji Commerce Commission for the Transaction.

Meanwhile Vonu Holdings considers that the Transaction would be beneficial to the future development and growth of the Vonu Brands in Fiji and export markets, while Paradise Beverages intends to increase the volume of the Vonu Brands in Fiji and export markets.

28th August 2013