Bootie Gets Funded
Feb 15, 2006 - Bootie Beer has struck a share deal with a mystery European investors as it looks to fund expansion.
The Wisconsin-based beer company has agreed to sell 10 million shares to a "European investment group" for an undisclosed sum.
"The investment agreement and financial relationship is an exciting and positive step towards achieving the company's business model objectives and enhancing shareholder equity," said Bootie Beer CEO Tania M. Torruella.
"The European investment group is a big endorser of the Bootie Beer business model, resulting in indications of follow-on financing to support our growth strategy."
Bootie Beer is a contract brewed beer that includes two styles, Bootie Beer and Bootie Lite. The company uses the slogan "America's Entertainment Beer."
The company said its brands had been "enthusiastically received", adding that it planned to give increased support to its distributors and wholesalers to drive sales in key markets.