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US winemaker Fresh Vine Wine, known for its “lower carb and lower calorie” offerings, have finalised a definitive merger agreement with Adifex Holdings' creator economy platform Amaze Software.
Financial terms of the transaction were not disclosed.
The deal, which follows a letter of intent (LoI) signed last month, will result in Fresh Vine Wine acquiring all issued and outstanding membership interests of Adifex.
Fresh Vine Wine dubbed the move as a “pivotal moment for the creator economy”.
Commenting on the deal, Amaze CEO Aaron Day said: “By merging with Fresh Vine Wine, we are offering creators a unique opportunity to expand their revenue streams with premium, highly sought-after products like wine and spirits, turning their dreams of sustainable revenue and brand ownership into reality.”
Day is expected to head up the combined business as CEO after obtaining SEC approval for the merger.
Speaking on the merger in October, Fresh Vine Wine CEO and Chairman Mike Pruitt said: “Amaze software provides content creators and brands an innovative way to control their brand identity, pricing and customer experience, while taking advantage of a $3tn global total addressable market.
"Importantly, we intend to remain in the wine business, taking advantage of the Amaze platform as a growth engine. We believe the combination would have the potential to yield significant value for our shareholders.”
Just Drinks has contacted the company for additional comment on the definitive merger announcement.
Amaze, with its subsidiaries including Amaze Studio, Spring by Amaze, and Teespring, supports “over 14 million creators, entrepreneurs, and businesses of all sizes".
The company is present on platforms such as YouTube, TikTok, Twitch, and Discord, and has recently announced an integration with Adobe Express.
Amaze's software enables influencers and content creators to sell physical and digital products, offering “seamless integrations” into global supply chains with “localised support” in regions such as North America, Europe, Australia, and India.
Through its merger with Fresh Vine Wine, Amaze is adding wine and spirits to its product catalogue, allowing creators to launch branded drinks offerings.
The addition enables content creators to “deepen fan connections and unlock new revenue streams” by offering “exclusive, custom-branded” products that appeal to their communities, Fresh Vine Wine said in a statement.
In January, Fresh Vine Wine announced it was exploring options for its wine assets following a planned reverse takeover with live entertainment and hospitality group Notes Live.