NEW YORK: Harrison Vickers', Attitude Beer Holding Company subsidiary, announced that it has reached an agreement with the operating and marketing units of the chain of World of Beer taverns, to manage its taverns in Connecticut and Massachusetts.
The deal as structured, allows for World of Beer to take over the daily operations of the taverns which should dramatically improve efficiencies and top line sales. Additionally, the 9% royalties previously paid under the old agreement with NEWOB will be eliminated, thereby driving significant benefits to the bottom line of the business. Further, World of Beer has become an equity partner in both the West Hartford CT and Cambridge MA tavern operations.
Jeff Canouse, CEO of Harrison Vickers stated, "This transaction puts our taverns on much firmer footing. The increased efficiencies from the experienced operators and marketers at World of Beer, along with the significant economic improvement to our bottom line, should position the Company well for the coming year and beyond."
