Beverage firm Iconic Brands has purchased a majority stake in premium Sicilian Vodka distributor, BiVi, in a bid to expand its premium spirits business in the US.

As part of the deal, Iconic has bought a 51% interest in BiVi in exchange for the issuance of 1,000,000 shares of restricted common stock and 1,000 shares of newly created Series C convertible preferred stock.

BiVi will also receive working capital facility of $750,000 from Iconic.

Sicilian Vodka is claimed to be unique vodka that is crafted in Sicily in an artisan distillery using semolina wheat.

BiVi has so far secured pre-orders for over 400 cases of Sicilian Vodka from its distribution partners.

Iconic Brands president, CEO and director Richard DeCicco has beneficially owned and controlled BiVi, prior to the deal.

Iconic Brands develops, markets and distributes branded alcoholic beverages, including Sangre de Vida Tequila, Apocalypto Tequila and Deadhead Rum.