Paradise Beverages to buy Vonu at $7.4m

The country’s biggest brewery operator Paradise Beverages (Fiji) Limited is buying the Vonu beer brands from Vonu Holdings Limited. Vonu is produced from a micro brewery near Nadi Airport.
Walu Bay-based Paradise Beverages and Vonu Holdings Limited have negotiated the sale and purchase of the ‘Vonu Brands’ throughout the world, including in Fiji for NZD $5 million (approximately FJ$7.4 million)
Paradise Beverages will purchase certain intellectual property assets of VHL which includes 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, including all rights to the well-known ‘Vonu’ beer brand.
Paradise Beverages and Vonu Holdings have agreed all terms and conditions are now in the process of finalsing 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 have met and resolved to enter into the sale and purchase agreement.
Vonu Holdings approached Paradise Beverages to purchase the Vonu Brands as Vonu Holdings considers that the transaction will be benefi cial to the future development and growth of the Vonu Brands in Fiji and export markets.
Paradise Beverages intends to materially increase the volume of the Vonu Brands in Fiji and export markets.
Paradise Beverages and Vonu Holdings expect to complete the transaction shortly.
–PARADISE BEVERAGES LIMITED