26 August, 2005

USA: Drinks Americas aquires famous beer brand

Drinks Americas company, purchased Rheingold Brewing for an undisclosed price to revive a beer brand with a long history in the metropolitan area.

Rheingold started in New York in 1883 when three sons of a German brew master built the S. Liebmann & Sons Brewery in Brooklyn. In 1999 the brand was revived as a small, regional label and is brewed nowadays in Utica, N.Y. and sold in New York. The brand is well known as "extra- dry" beer fromTV jingles.

Drinks Americas intends to expand the iconic brand, known for its white and red label. "I've had people as young as their early 20s sing the Rheingold jingle to me," said J. Patrick Kenny, chief executive of Drinks Americas.

The company plans to focus on "celebrity and icon" brands and push into the growing Hispanic consumer market, according to a filing with the Securities and Exchange Commission. Drinks Americas share closed on August 24 at $1.20 a share, up 3 cents. The shares began trading over the counter in June 2005.

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