Panache Beverages, a New York-based alcoholic beverage company specialising in the development, global sales and marketing of spirits brands, will expand its business in three phases, according to CEO James Dale.

During a meeting held on 16 October 2013 in Miami Beach, Florida, the company informed the shareholders that it has recently completed the first phase, which included establishing Panache as a true portfolio firm, integration of the business with distillery acquisition, expanding the sales and marketing infrastructure, and beginning to unlock alternative revenue streams.

Also discussed in the meeting were the company’s current phase of organic growth, which included its continued focus on supporting existing base brands Wódka Vodka, Alibi American Whiskey and Alchemia Infused Vodka, and the addition of new brands in the future.

In the final phase, the company is expected to seek acquisitions to complement its existing portfolio, strategic alliances with major spirits suppliers or a possible brand or company sale.

Dale said Panache has a clear vision for its future and is also keenly aware of its strengths and limitations.

"Articulating this vision to our shareholders was very important and something which we will continue to update them on in the future," Dale added.

Panache aims to build its brands as individual acquisition candidates while continuing to increase its portfolio of new brands.