Business
Metavesco Executes Letter of Intent to Acquire Striped Pig Distillery and Local Choice Spirits
Metavesco Executes Letter of Intent to Acquire Striped Pig Distillery and Local Choice Spirits.
About this update from Metavesco Inc.
[{"type":"text","content":"\n\n\n\nMetavesco Executes Letter of Intent to Acquire Striped Pig Distillery and Local Choice Spirits\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMetavesco Executes Letter of Intent to Acquire Striped Pig Distillery and Local Choice Spirits\nPR Newswire\nCUMMING, Ga., Aug. 16, 2024\n\n\n\nCUMMING, Ga., Aug. 16, 2024 /PRNewswire/ -- Metavesco, Inc. (OTC PINK:MVCO), a web3 enterprise and digital asset innovator, today announced the execution of a non-binding Letter of Intent (LOI) to acquire Striped Pig Distillery and Local Choice Spirits of Charleston. \n\nFounded as one of South Carolina's oldest distilleries, Striped Pig Distillery has garnered multiple awards for its exceptional craft spirits. Local Choice Spirits has established a reputation for innovation and quality, solidifying its place in the market. \nThe two companies are led by visionary entrepreneur \"Pixie\" Paula Dezzutti. Pixie is recognized as a top influencer in SC in 2024, listed by Forbes as \"Top 50 Over 50\" in 2023, and recipient of the International Woman of the Year Award by the Atlanta Chamber of Commerce in 2022. She has been a prominent figure in the industry, not only for her business acumen but also for her contributions to the broader business community. Listed by INC 5000 as one of the fastest growing companies of the Southeast, and SC Top 50 Fastest Growing Businesses, Local Choice and Striped Pig have plans to unveil an event center for its patrons. Upon closing this transaction, Ms. Dezzutti will be appointed as Chief Executive Officer of Metavesco, Inc.\nPost acquisition, the businesses will operate as wholly owned subsidiaries of Metavesco, Inc. Highlights of the combined businesses include:\nApproximately 1000 barrels of aged bourbon, valued at over $18,000,000 retail16 active product skus including vodkas, rums, gins, whiskeys, and tequilaProduct distribution in 20 states and ecommerce availability in mostDistillery capable of producing 300 high quality bourbon barrels annuallyWorld class management team with over 100 years combined industry experienceAt closing, ...