Greene Concepts Holds Discussions for Possible Acquisition of a Sports Hemp Beverage Line to Capture Portion of $22 Billion Sports Drink Market
03 August 2021 - 2:22AM
InvestorsHub Cannabis NewsWire
Marion, North Carolina, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Greene
Concepts, Inc. (OTC Pink: INKW) is happy to announce it is in
discussion with a firm to purchase its sports hemp beverage company
as a wholly owned subsidiary under the Greene Concepts
banner. The sports hemp beverage company is a manufacturer
and distributor of all-natural hemp infused sports drinks available
in multiple flavors. This will extend Greene Concepts' reach
into the sports drink industry valued at $22.37 billion in 2018
with a compound annual growth rate (CAGR) of 7.8% over the forecast
period according to Grand
View Research.
It is estimated that about 60% of males and 40% of the female
population in the U.S. are usual consumers of sports drinks,
amounting to over 165 million people. The U.S. population as
of the April 1, 2020
U.S. Census was 331,449,281. The possible
acquisition of this new company features a brand of products that
include quality produced hemp extract to capture a portion of the
sports drink market and subsequently a notable part of the U.S.
population. Each product maximizes potency and
bioavailability (the rate at which hemp is absorbed into the
bloodstream).
Lenny Greene, CEO of Greene Concepts, states, "As noted by
Grandview Research, sports drinks help athletes and individuals
replace electrolytes, energy and water before, during or after a
competition or training and the demand for these drinks continue to
rise. Because of the popularity of sports drinks in our
current market, I want to let everyone know that we are in
discussions with a hemp infused sports drink beverage company and
looking to incorporate its company and product line into Greene
Concepts as a wholly owned subsidiary. This company has
inventory on-hand ready to sell, which we would begin to do
immediately. If completed, the new company would
significantly increase our product SKU's and overall sales for
Greene Concepts as we penetrate a new market segment.
Consumers of this new product line, both athletes and everyday
users, will receive high levels of revitalization and relaxation to
support the body."
Mr. Greene concludes, "With this new subsidiary, we would retain
the firm's previous management to help grow the brand and meet the
growing demand for healthier, great-tasting artesian hemp-infused
flavored water and sports drinks. This market segment
continues to grow, and we will be on the cusp of this continued
growth. The products have all been developed by its team
leader who is also an executive chef. As we continue
discussions toward a possible acquisition, we will keep everyone
apprised of progress. We continue to our march toward growing
Greene Concepts and maximizing shareholder
value."
About Greene Concepts, Inc.
Greene Concepts, Inc. (https://www.greeneconcepts.com) is a publicly traded
company with the company's main plant operations in Marion, North
Carolina. The Company owns and operates a bottling and
beverage facility. The bottling facility has as its water
sources a combination of seven spring and artesian wells that are
fed from a natural aquifer that is located deep below the Blue
Ridge Mountains. The Company specializes in its premium
artesian bottled water brand, BE WATER (www.bewaterbeyou.com), to support total body
health and wellness.
Safe Harbor: This Press Release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These forward-looking statements are based on the
current plans and expectations of management and are subject to a
few uncertainties and risks that could significantly affect the
company's current plans and expectations, as well as future results
of operations and financial condition. A more extensive listing of
risks and factors that may affect the company's business prospects
and cause actual results to differ materially from those described
in the forward-looking statements can be found in the reports and
other documents filed by the company with the Securities and
Exchange Commission and OTC Markets, Inc. OTC Disclosure and News
Service. The company undertakes no obligation to publicly update or
revise any forward-looking statements, because of new information,
future events or otherwise.
CONTACT:
Greene Concepts, Inc.
Investor Relations
IR@greeneconcepts.com
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