Kona Gold Beverage, Inc's Gold Leaf Distribution Subsidiary Posts Record Revenue Month in November

Rhea-AI Summary

Kona Gold Beverage (OTCQB: KGKG) announced record revenue for its subsidiary, Gold Leaf Distribution, reaching approximately $362,000 in November 2022, doubling the prior year's revenues. The company anticipates total revenue of about $3.5 million for 2022, marking a 146% increase from 2021. The subsidiary distributes over 300 products to more than 1,700 customers, including major chains like Walmart and Target. Furthermore, Kona Gold is expanding its beverage portfolio with new marketing and distribution strategies through an agreement with Strategy & Execution Inc.

Positive

• Gold Leaf Distribution achieved record revenue of approximately $362,000 in November 2022, a year-over-year doubling from $180,000.
• Projected total revenue for Gold Leaf Distribution in 2022 is around $3.5 million, representing a 146% increase from 2021's $1.42 million.
• Expansion plans include entering new markets in North Carolina and introducing additional brands in 2023.
• The rollout of Ooh La Lemin Lemonades in over 250 Walmart Supercenters across 12 states is underway.

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• None.

Melbourne, FL, Dec. 01, 2022 (GLOBE 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

FAQ

What revenue did Kona Gold Beverage report for November 2022?

Kona Gold Beverage reported approximately $362,000 in revenue for November 2022.

How much revenue growth did Gold Leaf Distribution experience year-over-year?

Gold Leaf Distribution's revenue in November 2022 doubled from approximately $180,000 in November 2021.

What is the projected total revenue for Kona Gold Beverage in 2022?

Kona Gold Beverage anticipates approximately $3.5 million in total revenue for 2022.

What are the plans for Kona Gold Beverage's expansion in 2023?

Kona Gold Beverage plans to expand into North Carolina and add additional brands in early 2023.

Where is Ooh La Lemin Lemonade being rolled out?

Ooh La Lemin Lemonade is being rolled out in over 250 Walmart Supercenters across 12 states.