Kona Gold Beverage, Inc Signs New Distribution Partners in
California, Illinois, and Nevada
The Company expands its beverage portfolio to new
markets
Melbourne,
FL -- August
10th,
2022 -- InvestorsHub NewsWire -- Kona Gold
Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and hemp and CBD functional beverage sector is
pleased to announce it has signed new distribution partners in
California, Illinois, and Nevada to distribute its Ooh La Lemin
lemonades.
The
California and Nevada markets are new markets for the Company's Ooh
La Lemin beverage products.
Kona Gold's
new West Region Territory Manager will be leading and managing the
partnership with the California and Nevada distribution
partners.
The
California distribution partner, who is based in Sacramento, will
cover 20 surrounding counties, and the Nevada distributor will
cover the entire state. The new Illinois distributor will cover 9
counties.
Kona Gold
Beverage has already surpassed all of 2021 revenue as the Company
focuses on 2022 revenue more than doubling from the previous
year.
With the
expansion westward and the development of its current distribution
partners, the Company anticipates it will achieve this
goal.
"I'm very
excited to announce our expansion into California and Nevada with
new distribution partners in those states and our new distribution
partner in Illinois," stated Robert Clark, CEO of Kona Gold
Beverage, Inc. "With the recent expansion of our sales team and the
addition of distribution partners, we are going to get our beverage
products in more consumer's hands as we execute the groundwork to
expand across the United States.
Our team is
currently working on signing additional distribution partners and
scheduling fall meetings with retail chains."
Kona Gold
Beverage recently announced its subsidiary, Kona Gold LLC, expanded
its sales team with the hiring of a Wisconsin Territory Manager and
a West Coast Region Territory Manager.
Both hires
have extensive beverage backgrounds and are already making an
impact on sales within the Company.
Kona Gold,
whose distribution partners are primarily on the East Coast and
Midwest of the United States, is excited to be expanding to the
West Coast of the U.S.
Within the
last week, the Company has signed two new distribution partners,
one in Nevada and one in California, which it will be announcing
very soon.
Kona Gold
Beverage's second-quarter gross revenue was the highest quarterly
gross revenue in Company's history.
The
Company's subsidiaries combined gross revenue was approximately
$1,230,000 for the second quarter with subsidiary breakdowns of
approximately $955,000 from Gold Leaf Distribution LLC and
approximately $275,000 from Kona Gold LLC.
Kona Gold
Beverage's 2022 Q2 revenue is an increase of approximately 15% from
the previous quarter and an increase of approximately 44% from the
same quarter in 2021.
For more
information regarding Kona Gold Beverage, please visit:
https://konagoldbeverage.com/
About Kona
Gold Beverage, Inc.
Kona Gold
Beverage, Inc., a Delaware corporation, has created wholly-owned
subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf
Distribution, LLC.
Kona Gold,
LLC has developed a premium Hemp-Infused Energy Drink line; please
visit its website at
www.konagoldhemp.com.
HighDrate,
LLC has developed the beverage industry's first CBD-Infused Energy
Water, available in 6 delicious flavors; please visit its website
at
www.highdrateme.com.
Gold Leaf
Distribution, LLC was created to fill the Company's distribution
needs in markets that it wants to enter quickly; please visit its
website at
www.goldleafdist.com.
Kona Gold
Beverage, Inc. recently rebranded its Lemin Lemonade to Ooh La
Lemin Lemonade; please visit its website at
www.oohlalemin.com. Kona Gold
and its family of companies are located on the east coast of
Florida in Melbourne and in Greer and Conway South
Carolina.
Safe Harbor
Statement:
The
information posted in this release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. You can identify these statements by use of the
words "may," "will," "should," "plans," "expects," "anticipates,"
"continue," "estimate," "project," "intend," and similar
expressions. The
Company may also make written or oral forward-looking statements in
its filings with the U.S. Securities and Exchange Commission, in
press releases and other written materials, and in oral statements
made by its officers, directors or employees to third
parties.
There can
be no assurance that such statements will prove to be
accurate.
The Company
cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the Company's Registration Statement on Form
S-1.
Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or
anticipated.
These risks
and uncertainties include, but are not limited to, general economic
and business conditions, effects of continued geopolitical unrest
and regional conflicts, competition, changes in technology and
methods of marketing, delays in completing various engineering and
manufacturing programs, changes in customer order patterns, changes
in product mix, continued success in technological advances and
delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's
control. The
Company does not undertake any obligation to update publicly or to
revise any statements in this release, whether as a result of new
information, future events, or otherwise.
Investor
Relations Contact:
Robert
Clark
844-714-2224
investorrelations@konagoldbeverage.com
