StonePoint To Acquire Asian Rights To Oxygenated Water Brand

Jan. 10, 2002

StonePoint Group Limited has entered into an agreement to acquire the license to manufacture and distribute Life O2 super-oxygenated water from BevSystems International, Ltd. D.B.A. Life O2 International. The transaction is set to close Jan. 31.

The agreement allows StonePoint to manufacture the product in Canada and distribute in Asia, including, but not limited to, Japan, Korea, Philippines, China and Taiwan.

"We are very excited about this opportunity," states Ted Konyi, StonePoint's CEO. "The LifeO2 product has been successfully marketed by Life International in Japan for the last 3 years culminating in gross revenues of just under $4 million for 2001 … Our three-pronged approach to the beverage industry will not only enhance our revenue base and increase profitability, it will also provide StonePoint with greater exposure, especially in foreign markets."

The Japanese distributor of Life O2, Nihon Shokken, is the largest sauce manufacturer/distributor in Japan, with additional sales and distribution points in Taiwan and China. With established distribution channels in Japan and a strong sales group, Nihon Shokken expects to make their Balance Date O2 water the leading water in Japan.

StonePoint markets private label spring water and other beverages to large retailers, grocery stores and convenience stores. Its list of clients currently includes 7-Eleven, Macy's Department Stores and Marriott Hotels.

Source: Business Wire