CHICAGO, IL (April 11, 2005) – Holland & Knight LLP today announces the closing of a $5.5 million asset purchase on behalf of its client, Illinois-based Universal Food & Beverage Company (OTCBB: UFBV) – a full service provider of co-pack, private label and branded beverages for the health conscious consumer – to complete the purchase of assets relating to the water production and bottling business of Virginia-based Independence Water Group, LLC.
Universal has acquired substantially all intellectual property rights, product development and production equipment, 620 acres of land, aquifer rights, manufacturing and license agreements, and inventory from Independence Water Group.
The M&A team for Holland & Knight was led by partner Carl Neumann and associate Robert Harig, both based in the firm’s Oakbrook, Illinois office. The real estate team was led by partner Michael Ruane based in the firm’s Washington, D.C. office. Tom Kinasz, a tax partner located in the firm’s Chicago office, provided tax advice in connection with structuring the transaction.
Grayson National Bank was the lender and the real estate closing was handled by Chicago Title Insurance Co. in Washington, D.C.
About Holland & Knight LLP: Holland & Knight is a commercial law firm with more than 1,250 lawyers in 26 offices in the United States. Internationally, offices are located in Mexico City, Tokyo and Beijing, with representative offices in Helsinki, Caracas and Tel Aviv, and strategic alliance relations in Rio de Janeiro and Sao Paulo, Brazil. Holland & Knight is among the 15 largest firms worldwide, providing representation in all major areas of law. www.hklaw.com
Contact: Elizabeth Fogerty