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Innovation Beverage Group (IBG) has announced that its award-winning Australian Bitters is now available nationwide in the United States through Sysco, the global leader in foodservice distribution. This marks IBG's expansion into the foodservice category beyond traditional alcohol distributors. Australian Bitters is the first bitters product to be sold by Sysco and can be purchased through Sysco.com, SyscoMarketplace.com, and SuppliesontheFly.com.
The U.S. is the largest bitters market by volume, accounting for 40% of the $11 billion global bitters market, which is expected to grow to $14 billion by 2030. IBG's CEO, Dean Huge, expressed excitement about expanding the availability of their product in the world's largest market through the largest food distributor.
Innovation Beverage Group (Nasdaq:IBG) has appointed Genevieve Jodhan as Chief Sales Officer. Jodhan, former CEO of Angostura Holdings , brings extensive experience in brand building and international business development. Her appointment comes as IBG pursues growth following its IPO and Nasdaq listing.
Jodhan's background includes executive roles at Angostura, where she led the re-engineering of distribution models and marketing strategies for international brands. She holds degrees in Economics and Logistics, and has completed Harvard Business School's Advanced Management Program.
IBG CEO Dean Huge expressed confidence in Jodhan's ability to capture greater market share and leverage her industry network. Jodhan, in turn, praised IBG's innovative approach and expressed enthusiasm for leading the growth of the company's expanding beverage portfolio.
Innovation Beverage Group (IBG) has announced the pricing of its initial public offering on the Nasdaq Capital Market. The company is offering 1,350,000 ordinary shares at $4.00 per share, aiming to raise $5.4 million in gross proceeds. IBG has also granted underwriters a 30-day option to purchase up to 202,500 additional shares for over-allotments.
Trading under the symbol "IBG" is expected to commence on September 26, 2024, with the offering closing around September 27, 2024. The Benchmark Company, is serving as the sole book-running manager for the IPO. IBG is a developer, manufacturer, marketer, exporter, and retailer of a diverse beverage portfolio, focusing on premium and super-premium brands across 13 alcoholic and non-alcoholic categories.
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