updated 11/15/2010 7:16:16 AM ET 2010-11-15T12:16:16

WILTON, Conn., Nov. 15, 2010 (GLOBE NEWSWIRE) -- Drinks Americas Holdings, Ltd. (OTCBB:DKAM), announced today that top line revenue from the Company's introduction of Rheingold Beer in Metro New York has generated $106, 000 in sales through October 30th. Rheingold Beer was launched in September 2010 by the Company in New York, New Jersey, Pennsylvania and Connecticut in 12 oz. can twelve packs, bringing back New York's historic and well remembered beer.

The Company further stated that of the $106,000 in Rheingold orders for the two months, over half of the orders placed were reorders resulting in the sell through of the initial orders taken by distributors. Rheingold Beer is selling in a wide variety of accounts in the Metro New York market and four state launch markets. Accounts ranging from key New York grocery chains to on premise accounts like the Tribeca Grill and The Maritime Hotel in New York City have all purchased the famous beer.

A photo accompanying this release can be found at: https://www.issuerdirect.com/corporate/mediaroom/69083

J. Patrick Kenny, Drinks' CEO stated, "Rheingold Beer is really well remembered by beer consumers. The aspect of the launch that is most exciting is how many repeat orders we are seeing, both at retail and by distributors. As an example, our Fairfield County distributor is on his third order and our larger New York distributor is ordering their second full container. The financial impact the brand can have on the Company, as we scale up with the roll out of additional sizes like bottles and expand to markets like Florida where there is a deep familiarity with New York, will be important. The last time Rheingold was distributed in just New York City the brand generated over $6 million in sales, and we know we can cover a larger market area and in time exceed that target."

About Drinks Americas

Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities, including Willie Nelson's Old Whiskey River Bourbon, Olifant Vodka, Aguila Tequila, Trump Vodka and Damiana. For further information, please visit our new websites at www.drinksamericas.com and www.rheingoldbrewingcompany.com. The Drinks Americas Holdings, Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7881

Safe Harbor

Except for the historical information contained herein, the matters set forth in this release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.03%
$30K home equity loan FICO 5.68%
$75K home equity loan FICO 4.87%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com