Canada: ICBS Limited receives unsolicited offer of $3.5 mil for their Ramapo Valley Brewery Unit
Ramapo Valley Brewery, a wholly owned subsidiary of ICBS Limited, a business services and merger & acquisitions company announced that it has received an unsolicited offer to acquire its Ramapo Valley Brewery Unit for $3,500,000 dollars, PRNewswire reported April 16. The brewery holds a patent for its brewing technology and formulation of its gluten free beer, and has equipment and other assets of $1,500,000 dollars.
The offer contemplates an acquisition of Ramapo Valley Brewery and is subject to certain terms and conditions, including the negotiation of a definitive agreement and completion of due diligence by the acquirer. The Board of Directors will evaluate the proposal pursuant to the terms of the proposed acquisition offer for its merits and conclude its decision at a special meeting. We will inform our shareholders of the direction the company will take regarding this matter immediately upon its decision.
About Ramapo Valley Brewery
Ramapo Valley Brewery New York was established in Hillburn New York in 2000. The company was the result of a small micro brewery that first started brewing in 1997. Their unique brewing process and Recipes, along with the use of the valley spring waters, resulted in award winning beers. The brewery is well known for its "Gluten Free" HB Honey Beer (Patented) which is also the only beer in the U.S. rated Kosher for Passover. Over the next three years, the demand for their beers grew at such an astounding rate that the founders, decided to make the transition to a formal brewery.
About ICBS Limited
ICBS specializes in mergers and acquisitions (M&A) advisory services and invests in selective businesses with potential for high growth. The Company has designed a three-pronged business model that can potentially yield long term rewards with relatively diversified revenue streams, by:
- Acquiring and consolidating undervalued opportunities in selective high-growth industries to create value for our shareholders and target partners by combining expertise in both the product and capital markets.
- Acting as an incubator for emerging companies whose production and operational capability can be brought up to speed relatively quickly if product acceptance occurs.
- Taking minority interest in client-partner companies to align with their long-term interest and help build enduring value.
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