Kona Gold Beverage, Inc's Gold Leaf Distribution Subsidiary Posts
Record Revenue Month in November
Melbourne,
FL -- December
1, 2022 --
InvestorsHub NewsWire -- Kona Gold Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
better-for-you and functional beverage sector is pleased to
announce its wholly owned subsidiary, Gold Leaf Distribution,
posted record revenue in the month of November.
Record
revenue in November shows strong growth for Gold Leaf Distribution
as the winter months are historically the slowest in the beverage
industry.
Gold Leaf
Distribution posted approximately $362,000 in revenue for the month
of November.
Year-over-year
revenue growth in November doubled from the prior year's revenue,
which was approximately $180,000.
Gold Leaf
Distribution currently distributes over 300 products to over 1,700
customers including Target, Walmart, Quik Trip, Piggly Wiggly, IGA,
and other popular chains.
Gold Leaf
anticipates it will close out 2022 with approximately $3,500,000 in
revenue, up from approximately $1,420,00 in revenue from 2021, a
146% increase.
"I'm very
pleased to share with our stockholders that our Gold Leaf
Distribution subsidiary had another record month of sales, which
has been a common theme in 2022," stated Robert Clark, CEO of Kona
Gold Beverage, Inc. "Led by our VP of Operations, Chris Selinger,
Gold Leaf continues to bring in the right mix of products and grow
its customer base, which has led to huge increase in revenue
compared to 2021.
Gold Leaf
is on pace to close out 2022 with approximately 146% increase in
revenue from 2021, an amazing effort by our team."
Clark
added, "Our team is positioning Gold Leaf so that it continues on
its current growth path throughout 2023.
This will
include expansion into North Carolina, specifically the area of
Charlotte and adding additional brands with chain authorizations in
early 2023."
Kona Gold
Beverage recently announced it has entered into an agreement with
Strategy & Execution Inc ("SEI") to accelerate growth of its
beverage portfolio over the next three years and
beyond.
SEI will
operate as Kona Gold Beverage Brands sales management,
distribution, strategy, and execution leadership resource for the
US Market.
SEI will
also be interacting with Kona Gold Beverage's marketing team to
make recommendations, advise, and request what is needed for all
channels and collaborate in the yearly planning
process.
The current
relationships and brand portfolio that SEI has in the market will
undoubtedly drive the Kona Gold Beverage Brands go-to-market
objectives.
Kona Gold
Beverage also recently announced the rollout of its Ooh La Lemin
Lemonades in over 250 Walmart Supercenters across 12
states.
The rollout
has already begun and shelves will continue to be filled by the
Company's distribution partners throughout the month of
November.
The states
included in the initial rollout are Alaska, California, Michigan,
Minnesota, Nevada, North Dakota, Oregon, South Carolina, South
Dakota, Tennessee, Washington, and Wisconsin.
The
expansion is for designated space in Walmart Supercenters for the
16 oz non-sparkling Ooh La Lemin Lemonades.
The
Company's 6 SKU's of 12 oz Sparkling Lemonades are also authorized
to be sold in all Walmart stores in the U.S., but are not included
in these sets.
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
