Los Angeles, April 7 - Marani Brands Inc. today announced that it completed the next step in building a global company focused on the importation, sale and distribution of ultra-premium spirits and wines by successfully consummating a merger between a wholly-owned subsidiary of Marani Brands Inc., a public company, and Margrit Enterprises, Inc. As a result of the merger, Margrit Enterprises became a wholly-owned subsidiary of Marani Brands, and changed its name to Marani Spirits, Inc. At present, all of the operations of Marani Brands will be conducted by Marani Spirits.
Marani Brands trades in the over the counter bulletin board market under the symbol "MRIB."
"This is a landmark day for our company. Being a public company will enhance the visibility of our Company and our brands," said Margrit Eyraud, Chairman, President and Chief Executive Officer of Marani Brands. Marani Brands is well positioned to invest in its brand development and market penetration. With financing from institutional investors, such as, Julius Baer’s Black Sea Fund, lead investor. Ms. Eyraud went on to say, "Marani Brands represents quality, image and authenticity. With our flagship Marani Vodka leading the way and the backing of our new investors, the future is bright for us to build brands that provide consumers with a meaningful difference and that will deliver growth and value to our shareholders."
About Marani Brands Inc.
Marani Brands, Inc. is the parent company of Marani Spirits Inc. which was founded in 2001 for the purpose of developing and building luxury lifestyle spirit brands. The company’s flagship product, Marani premium Vodka has received numerous accolades and awards. Marani vodka won the prestigious global Diamond Award from the American Academy of Hospitality Sciences - winning the award in 2008. Gold Medals in 2004 and 2007 from the industry acclaimed San Francisco World Spirits Competition round out Marani’s credentials to date. Marani has grown to export some of the world’s finest vodka, brandy, cognac and wines, positioning the Company to develop into a leader in the worldwide premium spirits industry.