New York deal pushes up 42 Below's shares

42 Below has made a strong impact in New York and has now signed a distribution deal in the state.

Shares in 42 Below jumped 11 per cent yesterday after the liquor maker and marketer announced a New York state distribution deal with New York distributor Eber Brothers.

42 Below said that Eber Bros was making volume commitments that would make New York the largest single market for 42 Below within the United States.

The five-year exclusive contract had agreed annual growth targets.

Eber Bros is the 13th-largest distributor in the United States with revenues close to $US500 million ($739.64 million), 42 Below chief executive Geoff Ross said.

It was established 70 years ago and distributes a number of leading liquor brands such as Veuve-Cliquot and Jim Beam.

Eber president John Caruso said 42 Below had made a strong impact in New York.

42 Below shares closed up 7c at 70c.

- NZPA