TLAG news- Total Apparel Group, Inc. Announces Acq
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Posted On: 03/12/2013 11:28:34 AM
TLAG news- Total Apparel Group, Inc. Announces Acquisition of Interest in Premium Tea Company
NEW YORK, March 12, 2013 /PRNewswire/ -- Total Apparel Group, Inc. (Pink Sheets: TLAG, hereinafter the "Company" or "TAG") announces that it has acquired a minority interest in a premium loose leaf tea company, Village Tea Company Distribution, Inc. ("Village Tea") , the owner of the Village Tea Company brand of premium loose leaf teas and tea accessories. Village Tea, sources high-quality, unique teas with distinct flavor combinations and packages them in a variety of creative and earth-friendly ways. The brand is currently available in several major retailers in North America including Vitamin Shoppe, Whole Foods, Amazon and others. Village Tea products are also currently available on the company's website (www.villageteaco.com) as well.
As a part of the transaction, TAG will gain two board seats on the Village Tea board of directors and its principals will also assume key management roles in Village Tea Distribution Company, Inc. TAG will also have the opportunity to obtain a further interest in Village Tea at the Company's discretion.
The founder and current president of Village Tea, Martin Ekechukwu, will remain on board in his role as president of the company as well as a member of the company's board of directors. "Martin has done a wonderful job in creating the Village Tea brand and he will continue to play an extremely pivotal role in guiding the product development and sales efforts for Village Tea moving forward," stated Janon Costley, ceo of Total Apparel Group. The opportunity to work with someone as talented as Martin is an honor and we look forward to providing an additional layer of support that will enable him to properly execute the vision that he has for the brand and the overall business."
With the increased emphasis on health and wellness in the US market, the tea industry has seen exponential growth over the past 5 years. With the recent $620m Starbucks acquisition of Teavana and the ever increasing popularity of gourmet and boutique tea brands and retail outlets across the country, the Company feels that Village Tea is properly positioned for exponential growth over the course of the next several years. Martin Ekechukwu stated, "Obviously the immediate goal is to increase the sales footprint of our current product line through existing channels of distribution while we constantly seek to expand the footprint of the brand into new accounts. As we look toward the future we will also seek to leverage the licensing and distribution experience and resources of TAG to explore various brand extension opportunities into new categories such as tea accessories, branded bottle beverages, various tea based products, retail, co-branded tea infused beverages and other opportunities that fit within the brands overall long term goals and objectives."
About Total Apparel Group, Inc.
Total Apparel Group, Inc. (OTC Pink: TLAG) (http://totalapparelgroup.com) is a licensing, distribution and merchandising company focused on bringing national and international consumer product brands to the North American marketplace through acquisitions, strategic partnerships, joint venture, licensing and distribution agreements. Management has recently decided to shift the Company's focus from being exclusively focused on licensing and distribution in the apparel and accessory sector, as it will begin to re-direct its efforts towards more of an acquisition and investment based model, with a focus on a broad range of consumer products categories, primarily in the Health and Wellness sector.
About Village Tea Company Distribution, Inc.
Village Tea Distribution Company, Inc. (www.villageteaco.com) sources high-quality, unique teas with distinct flavor combinations and packages them under its Village Tea Company brand name in a variety of creative and earth-friendly ways. The Village Tea Company brand is currently sold in many major retailers throughout North America.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
SOURCE Total Apparel Group, Inc.
Copyright 2013 PR Newswire
NEW YORK, March 12, 2013 /PRNewswire/ -- Total Apparel Group, Inc. (Pink Sheets: TLAG, hereinafter the "Company" or "TAG") announces that it has acquired a minority interest in a premium loose leaf tea company, Village Tea Company Distribution, Inc. ("Village Tea") , the owner of the Village Tea Company brand of premium loose leaf teas and tea accessories. Village Tea, sources high-quality, unique teas with distinct flavor combinations and packages them in a variety of creative and earth-friendly ways. The brand is currently available in several major retailers in North America including Vitamin Shoppe, Whole Foods, Amazon and others. Village Tea products are also currently available on the company's website (www.villageteaco.com) as well.
As a part of the transaction, TAG will gain two board seats on the Village Tea board of directors and its principals will also assume key management roles in Village Tea Distribution Company, Inc. TAG will also have the opportunity to obtain a further interest in Village Tea at the Company's discretion.
The founder and current president of Village Tea, Martin Ekechukwu, will remain on board in his role as president of the company as well as a member of the company's board of directors. "Martin has done a wonderful job in creating the Village Tea brand and he will continue to play an extremely pivotal role in guiding the product development and sales efforts for Village Tea moving forward," stated Janon Costley, ceo of Total Apparel Group. The opportunity to work with someone as talented as Martin is an honor and we look forward to providing an additional layer of support that will enable him to properly execute the vision that he has for the brand and the overall business."
With the increased emphasis on health and wellness in the US market, the tea industry has seen exponential growth over the past 5 years. With the recent $620m Starbucks acquisition of Teavana and the ever increasing popularity of gourmet and boutique tea brands and retail outlets across the country, the Company feels that Village Tea is properly positioned for exponential growth over the course of the next several years. Martin Ekechukwu stated, "Obviously the immediate goal is to increase the sales footprint of our current product line through existing channels of distribution while we constantly seek to expand the footprint of the brand into new accounts. As we look toward the future we will also seek to leverage the licensing and distribution experience and resources of TAG to explore various brand extension opportunities into new categories such as tea accessories, branded bottle beverages, various tea based products, retail, co-branded tea infused beverages and other opportunities that fit within the brands overall long term goals and objectives."
About Total Apparel Group, Inc.
Total Apparel Group, Inc. (OTC Pink: TLAG) (http://totalapparelgroup.com) is a licensing, distribution and merchandising company focused on bringing national and international consumer product brands to the North American marketplace through acquisitions, strategic partnerships, joint venture, licensing and distribution agreements. Management has recently decided to shift the Company's focus from being exclusively focused on licensing and distribution in the apparel and accessory sector, as it will begin to re-direct its efforts towards more of an acquisition and investment based model, with a focus on a broad range of consumer products categories, primarily in the Health and Wellness sector.
About Village Tea Company Distribution, Inc.
Village Tea Distribution Company, Inc. (www.villageteaco.com) sources high-quality, unique teas with distinct flavor combinations and packages them under its Village Tea Company brand name in a variety of creative and earth-friendly ways. The Village Tea Company brand is currently sold in many major retailers throughout North America.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
SOURCE Total Apparel Group, Inc.
Copyright 2013 PR Newswire
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