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November 5, 2007

White Rock sells Three Olives Vodka

White Rock Distilleries in Lewiston has quietly sold its Three Olives Vodka brand, which it successfully grew into a major player in the high-end vodka market, to a New York-based company.

White Rock sold Three Olives Vodka in the middle of October to Proximo Spirits Inc., a new company, according to a press release. White Rock first launched Three Olives in 1999, and as late as 2001, it was selling fewer than 50,000 cases. In 2006, the company surpassed the 600,000 case mark and expects to sell nearly a million cases in 2007, the press release said. In 2006, the company had revenue of $160 million. A sale price for Three Olives was not disclosed.

The sale means "we can now focus our efforts and marketing dollars on other brands that are in our portfolio, and new brands that are currently in development," Paul Coulombe, White Rock's president and CEO, said in the release. He added that the company expects "to develop another million case brand in the near future."

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