Kona Gold Beverage, Inc's Subsidiary Gold Leaf Distribution Posts Record Monthly Revenue in August

Rhea-AI Summary

Kona Gold Beverage, Inc. has announced significant growth through its subsidiary, Gold Leaf Distribution LLC, achieving record revenue of approximately $348,000 in August 2022. The company attributes this growth to an expanding sales team, new product offerings, and increased consumer demand. In just three years, Gold Leaf’s sales have surged to $2.4 million for the first eight months of 2022. The company is actively hiring to support further expansion and has secured new distribution partners in California, Illinois, and Nevada to enhance market penetration.

Positive

• Record revenue of approximately $348,000 reported in August 2022.
• Total sales for Gold Leaf Distribution reached $2.4 million in the first eight months of 2022.
• Expanding sales team and new distribution partners indicate strong growth potential.

Negative

• None.

The Company expands its sales team

Melbourne, FL, Sept. 12, 2022 (GLOBE 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 its wholly owned subsidiary, Gold Leaf Distribution LLC, posted record monthly revenue in August.  Gold Leaf Distribution posted approximately $348,000 in sales.  The increase in sales has been fueled by a culmination of expanding the Company's sales team, adding new products, and consumer demand.  Gold Leaf expects to see continued growth throughout the rest of the year as it continues to have record revenue growth in 2022.

Gold Leaf Distribution has solidified itself as a leading beverage and snack distributor in the state of South Carolina where it currently covers approximately 70% of the state.  The Company is currently hiring for several positions to continue its expansion.

"I'm excited to share with our shareholders that our continued dedication to growing our subsidiaries, products, and market share is paying off," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "We started Gold Leaf Distribution in 2019 as a means to distribute our own products where we did approximately $80,000 in Sales our first year.  Just three years later, Gold Leaf has approximately $2.4M in sales through the first 8 months of 2022.  That's phenomenal growth which we expect to continue throughout the year and all through 2023."

Kona Gold LLC, the Company's beverage brand subsidiary, recently hired a Territory Manager in the state of Michigan.  The Company's new Territory Manager, Sam Toia, will work hand-in-hand with Kona Gold's Michigan distribution partner, Imperial Beverage, to grow the Company's brands throughout the great state of Michigan.

Kona Gold Beverage recently announced 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. 

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 were the sales figures reported by Kona Gold Beverage's subsidiary Gold Leaf Distribution for August 2022?

Gold Leaf Distribution reported approximately $348,000 in sales for August 2022.

How much revenue has Gold Leaf Distribution generated in the first eight months of 2022?

Gold Leaf Distribution has generated approximately $2.4 million in revenue through the first eight months of 2022.

What new markets is Kona Gold Beverage entering with its products?

Kona Gold Beverage has signed new distribution partners in California, Illinois, and Nevada.

What is the main focus of Kona Gold Beverage, Inc.?

Kona Gold Beverage focuses on product development in the better-for-you and hemp and CBD functional beverage sector.

What indicates continued growth for Gold Leaf Distribution?

The expanding sales team, new product offerings, and increasing consumer demand are expected to drive continued growth.