Marani Brands, Inc. Announces Acquisition of New Subsidiary, Peppermint Jim, LLC; Company Also Announces Management Changes
SAINT JOHNS, MI–(Marketwired – Nov 21, 2017) – Marani Brands, Inc. (OTC PINK: MRIB) (the “Company”), is pleased to announce its acquisition of a majority stake in Peppermint Jim, LLC. Peppermint Jim, LLC is the operator of Crosby Mint Farms. The farm was established in 1912 by the great-grandfather of James A. Crosby, better known as Peppermint Jim, and is the oldest continuously family operated mint farm in the United States. Mr. Crosby is the fourth generation of Crosby mint farmers and artisan distillers that grew up on the Crosby Mint Farm in St. Johns, Michigan.
As part of the transaction Mr. Crosby will join the board of directors of the Company.
Mr. Crosby stated, “The acquisition of Peppermint Jim, LLC by Marani Brands will allow our family business to grow by tapping into new markets and resources. In the coming weeks we will introduce our new business plan.” He also stated, “I look forward to beginning this new chapter of our 105 year old company’s history.”
Additional Financial and Restructuring events include:
- Financier, Paul Strickland, has joined the Company as interim CEO and Director. Mr. Strickland led the acquisition along with advisors to the Company.
- Previous management no longer holds any preferred shares.
- The initial payment for its majority stake of Peppermint Jim, LLC. has already been completed
Marani Brands is seeking to build a portfolio of branded products that can benefit from the economies of scale that comes from a portfolio concept and reduce the sales cost of a single independent brand.
Marani management believes that there is a unique opportunity in the consumer products space to acquire and manage small brands effectively, thereby giving Mariani a niche it can exploit and experience exponential growth potential.
The Company is seeking suitable acquisitions and business arrangements aligned with its new focus. The Company looks forward to sharing future developments with its shareholder base in a timely manner.
About Peppermint Jim, LLC
Peppermint Jim, LLC (PJ LLC), established in 2012, is the operator of Crosby Mint Farms, established in 1912. PJ LLC owns a mint distillery producing pure mint oil products utilizing a process developed over one hundred years ago. PJ LLC products include mint oils, lip balm, and muscle rub. PJ LLC also develops innovative approaches in the marketing of pure essential mint oils, along with the marketing of proprietary organic compost that is a by-product of its production process. PJ LLC also operates the Tucson Mountains Growing Station in Arizona in order to take advantage of the favorable Southwestern US climate, harvesting four to five times per year there, as opposed to just one annual harvest in Michigan.
Learn more about Peppermint Jim, LLC by visiting http://peppermintjim.com/
About Marani Brands, Inc.
Marani Brands is a wine and spirits company in the process of transitioning itself into a consumer-focused organic health & beauty products company.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Marani Brands, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Marani Brand’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Marani Brand’s filings with the Securities and Exchange Commission.
Marani Brands, Inc.
Public Relations and Shareholder Information
Name: Corporate Communications
Phone: (914) 361-9877