Omega Brands Corporation (OTC:OMGB) announced today it had entered into a definitive agreement with Mycell Technologies LLC to purchase certain specified assets related to the branded Omega-3 infused beverages and nutritional shots sold under the trade name Omega InfusionTM. Omega Brands Corporation also entered into a Supply agreement with Oceans Omega LLC (a wholly-owned subsidiary of Mycell Technologies LLC) for its proprietary omega emulsion.
Jim Dickson, CEO of Omega Brands commented “We are excited about assuming ownership of the Omega Infusion portfolio of flavored drinks and shots. Omega Brands Corporation anticipates repositioning these Omega Infusion Brands later this year and will offer the products to major retailers for sale to their customers.”
“We are looking forward to completing this transaction with Omega Brands Inc.” says Dr. Volker Berl, CEO of Mycell Technologies. “The brand Omega Infusion, which we have proudly created, will be in very capable hands to ensure its further growth. The management team at Omega Brands Inc. has extensive experience within the beverage industry which will accelerate the sales and distribution of the Omega Infusion branded products. Mycell Technologies can now concentrate on its core business as a specialty ingredient company to expand the use of its innovative and proprietary omega-3 ingredient solutions to the food and beverage industries.”
Omega Brand’s goal is to develop and distribute specialty beverages such as Omega Infusion products across North America and selected international markets. Our beverages will follow a proven business model from a sales and distribution perspective that target strategic retailers in the Convenience & Gas, Conventional Grocery, Discount Grocery, Mass, Club and Drug channels.
The terms of the asset purchase agreement include:
Omega Brands Corporation also entered into a supply agreement with Oceans Omega LLC, a wholly-owned subsidiary of Mycell Technologies LLC for a term of 20 years. This agreement provides in part for:
SOURCE Omega Brands Corporation