Under the terms of the agreement, FMBV purchased 100% of Mojito Brands and its registered trademark MOJAVA®. The acquisition gives FMBV an entry into the $1.2 billion dollar RTD specialty coffee market. MOJAVA® will be marketed through FMBV’s wholly owned subsidiary, Performaxx Brands, Inc. (“Performaxx”) and Dean Petkanas will remain on board as a director of FMBV.
Dean Petkanas, Director of FMBV, stated, “One of the greatest opportunities in capturing growth in the coffee beverage industry remains in the subcategories, iced coffee / ready-to-drink coffee. Of the approximately $1.2 billion in sales of RTD coffee for 2008, Starbucks remains the leader, claiming approximately eighty-five percent (85%) of the total market sales. We see an excellent opportunity here to capture market share within this segment with MOJAVA® acting as a lead in to acquire other products in this space. We’re excited to be in the iced coffee arena and one that Jon Luther, Chairman of Dunkin Donuts, called ‘the sweet spot where the product meets the customer’s wallet.'”
About Full Motion Beverage, Inc.
Full Motion Beverage is a diversified beverage company that owns, develops, markets and exclusively imports brands in the alcohol and non-alcohol sectors of the beverage industry.
For more information, please visit: www.fullmotionbeverage.com.