Delayed London Stock Exchange - 11:35 2022-12-02 am EST
2.800 GBX  0.00%

IN BRIEF: East Imperial shares jump on news of US bottling deal

11/24/2022 | 08:40am

East Imperial PLC - New Zealand-based tonic waters and mixers producer - Appoints The Lion Brewery, a Pennsylvania-based drinks producer, as its US bottling partner. According to the agreement, the brewery will bottle East Imperial's entire range from early 2023.

East Imperial says the agreement will result in significant logistical savings, reducing the capital costs involved in US expansion. It follows news of a recent distribution agreement with Republic National Distributing Company, one of the largest distributors in the US, earlier this year.

Chief Executive Officer Tony Burt says: "I am pleased that we have found a bottling partner who shares our high standards in sourcing and bottling the best quality ingredients to make the best possible product for our discerning clientele. I am incredibly excited about the US opportunity for ultra-premium mixers, and now with local bottling and national distribution in place, East Imperial is well positioned to capitalise on this, and reach new customers across the country."

Current stock price: 2.80 pence, up 14% in London on Thursday

12-month change: down 77%

By Holly Beveridge; hollybeveridge@alliancenews.com

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