Kona Gold Beverage, Inc Signs New Distribution Partners in California, Illinois, and Nevada
Kona Gold Beverage (OTCQB: KGKG) has expanded its beverage portfolio into new markets by signing distribution partnerships in California, Illinois, and Nevada for its Ooh La Lemin lemonades. This marks a significant westward expansion, with California's distributor covering 20 counties and Nevada's distributor covering the entire state. The company reports its second-quarter gross revenue reached approximately $1,230,000, a 15% increase from the previous quarter and a 44% increase from Q2 2021. Kona Gold aims to double its 2022 revenue compared to 2021, leveraging new distribution channels and expanded sales team.
- Second-quarter gross revenue of approximately $1,230,000, highest in company history.
- Q2 revenue increased by 15% from the previous quarter and 44% from Q2 2021.
- Expansion into California and Nevada expected to broaden market reach and increase sales.
- None.
The Company expands its beverage portfolio to new markets
Melbourne, FL, Aug. 10, 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 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
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
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