RushNet, Inc. a Major Beneficiary of Proposed Brewery Deal Significant Increase in Licensed Product Base Anticipated
BLUE ISLAND, Ill., Mar 10, 2006 (BUSINESS WIRE) -- RushNet, Inc. (Pink Sheets:RSHN) announces that Robert J. Corr and investment group Lynch Partnership One, led by well-known entrepreneur Michael Lynch, have agreed to proceed with the private acquisition of a regional Midwest brewery.
Robert J. Corr is president of RushNet, Inc. (a public company) and privately held Rush Beverage Company. He has many years of experience in the beer business.
The company stated that, upon completion of this purchase by the two parties, RushNet, Inc. will be appointed as exclusive, royalty-based marketing agent for the brewery's existing branded products along with new beverage items to come. Sales at the brewery exceeded $1,000,000 in 2005 and were up 40% in first two months of 2006 compared to the same period last year.
The Brewery
The brewery, one of America's oldest, has been family owned and operated for over 100 years. It brews and produces its own branded line of alcoholic and malt beverages, gourmet sodas and does private label work with these products.
Lynch Group
Chicago native Michael Lynch leads Lynch Partnership One, an investment entity. Mr. Lynch is the former chairman of a multi-billion dollar aluminum business, which attempted a take-over of giant Reynolds Metals Inc. in the late 1990's. More recently, Michael Lynch has made substantial investments in composite technologies and plastics. Perceiving undervalued opportunities presented by the natural/organic food and beverage category, Mr. Lynch is also moving into this sector aggressively.
Adding Licensed Products
"RushNet is a major beneficiary of this acquisition said Robert Corr, president of RushNet, Inc. After the Lynch Group and I purchase the brewery, the RushNet stable of marketed licensed products will expand instantly to include their existing branded items. Furthermore, the brewery, under new ownership, will introduce a line-up of innovative all-natural beverages such as fresh-brewed flavored teas and lightly carbonated 100% juice drinks; apple, black cherry, raspberry, blueberry and others. Apple Rush(TM) will be our first 2006 entrant in this category."
Corr added, "The ownership group will install a modern "flash" pasteurization unit at the brewery to ensure integrity of the all-natural ingredients without using preservatives. The juice products will be attractively packaged in glass bottles."
Company Growth
"The brewery alliance, by providing RushNet with a constant stream of innovative quality beverages, can transform our company into a full-fledged beverage marketing firm representing multi-level brands of brewed, carbonated and still beverages," Corr added.
In a further statement, Robert Corr thanked his loyal shareholders for their steadfast support and invaluable suggestions.
enjoytherush.com
SOURCE: RushNet, Inc.
CONTACT: RushNet, Inc. Robert Corr, 708-389-6625
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