Paradise Beverages Fiji Limited (PBFL) and the Vonu Holdings Limited will soon complete the transaction of the sale and purchase of the Vonu Brands throughout the world, including Fiji at approximately FJD$7.4 million.
In a statement from Paradise Beverages Fiji Limited, the purchase will also include certain intellectual property assets of Vonu Holdings Ltd.
This covers all of the goodwill and intellectual property rights in and associated with the trademarks and any other beer brands (whether registered or unregistered) owned by Vonu Holdings Ltd, including all rights to the well known “Vonu” beer brand.
The statement indicates that Paradise Beverages Fiji Limited and Vonu Holdings Ltd have agreed to all terms and conditions and are now in the process of finalizing the sale and purchase agreement and have received the approval of the Fiji Commerce Commission for the transaction.
The board of directors of Paradise Beverages Fiji Limited have met and resolved to enter into the sale and purchase agreement.
Meanwhile, Vonu Fiji Holdings Ltd approached Paradise Beverages Fiji Limited to purchase the Vonu Brands as Vonu Holdings Limited considers that the transaction will be beneficial to the future development and growth of the Vonu Brands in Fiji and export markets.
Paradise Beverages Fiji Limited intends to materially increase the volume of the Vonu Brands in Fiji and export markets.
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