Prime Star Group Signs $16M Distribution Agreement
16 Mars 2010 - 4:30PM
Marketwired
Prime Star Group, Inc. (OTCBB: PSGI) subsidiary, IntelAPac, is
pleased to announce that it has executed a master distribution
agreement valued up to $16M annually with Beverage Source 1, LLC,
located in North Bergen, NJ, and will cover New York State's
Southern 14 County Region which is comprised of: Dutchess, Orange,
Ulster, Bergen, Putnam, Rockland, Westchester, Richmond (Staten
Island), New York (Manhattan), Kings (Brooklyn), Queens, Bronx,
Nassau, and Suffolk Counties. Distribution of IntelAPac's H2O water
and ice product will be the focus of this agreement.
Cosmo Amato, General Manager of Beverage Source 1, LLC, stated,
"IntelAPac H2O and ice products provide our state and municipal
clients in the lower region of New York State access to additional
necessary amounts of water and ice inventory. The greater New York
metropolitan area can at times be vulnerable and lack basic
necessities such as water and ice, especially during the coming
summer months where brown outs and black outs take place, can often
make a bad situation worse. With additional consideration to the
constant and potential threat for disruption of services due to
terror attacks, local and state governments understand the need to
be prepared by having access to flexible, easily deployed water and
ice inventory. IntelAPac's products provide that capability to
those entities."
Roger Mohlman, President of Prime Star Group, added, "We are
extremely proud to be working with Beverage Source 1.Through their
distribution capability and penetration, we are able to make water
and ice available for emergency use to local and state government
in New York. We could not ask for a better channel partner and
corporate citizen to be aligned with than Beverage Source 1. We
look forward to a long and rewarding relationship."
About Beverage Source 1, LLC Based in
North Bergen, New Jersey, Beverage Source 1, LLC provides
distribution of juice drinks, water, mixers, and carbonated
beverages throughout the State of New Jersey and Southern New York
State. The company services both the on premise segment which
includes restaurants, bars, and night clubs as well as off premise
convenience stores, local grocery, regional chain supermarkets,
hospitals, and municipalities. Beverage Source 1, LLC's product
portfolio currently includes fine brands such as Hawaiian Punch™,
Tampico™, Crystal Choice™ Water, and Daily's Drink Mixers. For more
information about Beverage Source 1, LLC, visit:
www.bevsource1.com.
About Prime Star Group Prime Star Group,
Inc. is a holding company that focuses on four areas of business:
SmartPax™ Packaging, Premium Food & Beverage Products,
Distribution, and Risk Management. The company's operating
subsidiaries produce, market, and distribute wines, tea, adult
mixed beverages, flavored water, and gourmet seafood products. The
company also produces co-brand and co-pack existing high-end
beverages and private label liquors for large hospitality and
entertainment brands. Prime Star is focused on the food and
beverage, entertainment, hospitality, healthcare and disaster
relief industries.
Forward Looking Statements - Safe Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Prime Star Group, Inc., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Prime Star Group, Inc.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in Prime Star Group, Inc.'s filings with the Securities
and Exchange Commission.
CONTACT: Prime Star Group, Inc. Public Relations Dan Schall
(858) 240-7873 or on the web at http://www.primestargroup.net/
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