Pacific Ventures Expands Product Line and Readies for Revenue Ramp
Pacific Ventures Group, Inc. (OTC PINK:PACV) announced an expansion of its product line, focusing on high-quality protein and beef products imported from Mexico, through its subsidiary Seaport Meat Company. This initiative is aimed at diversifying the supply chain and catering to various customer price points. With Mexican beef's strong market desirability and quality, the company anticipates increased revenue and enhanced profit margins. President and CEO Shannon Masjedi highlighted the growth phase of Pacific Ventures, emphasizing the potential for cross-marketing and attracting new customers. The company continues to focus on operational efficiencies and revenue generation.
- Expansion of product line with high-quality Mexican beef products.
- Expected increase in revenue and profit margins through diversification.
- Strong market position of Mexican beef may attract new customers.
- Risks associated with market acceptance of new products.
- Dependence on single suppliers for certain components.
- Challenges posed by intense competition from larger companies.
LOS ANGELES, CA / ACCESSWIRE / March 28, 2023 / Pacific Ventures Group, Inc. (OTC PINK:PACV) ("Pacific Ventures" or the "Company"), a consumer-centric holding company specializing in the distribution of food, beverage and alcohol-related products, today announced that it is expanding the number of high quality products it offers.
Seaport Meat Company, a wholly-owned subsidiary of Pacific Ventures, will be introducing a new line of high quality protein and beef products imported from Mexico. As one of America's leading meat processing foodservice distribution companies, Pacific Ventures will continue to diversify the supply chain and target customers looking for a variety of price points. Mexican beef is rated highly for desirability and quality. Results from surveys and testing indicate Mexican beef is in an advantageous position when competing with other beef products in the current open market.
"As mentioned in our shareholder letter earlier this month, Pacific Ventures is entering its next phase of growth and we will create new opportunities and operational efficiencies. We believe that the company will be able to cross-market to our existing customers and attract a number of new customers with these new products. By offering quality beef products from across the price spectrum, we are confident we can drive increased revenue and simultaneously increase our margins," stated President and CEO Shannon Masjedi of Pacific Group Ventures.
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC:PACV) is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of operating subsidiaries, Pacific Ventures delivers specialty groceries, top quality proteins and produce, and innovative products to consumers through wholesale, retail, and direct-to-consumer channels. For more information on Pacific Ventures Group, please visit www.pacvgroup.com.
Forward Looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xi) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Investor Relations Contact:
Chesapeake Group
410-825-3930
info@chesapeakegp.com
SOURCE: Pacific Ventures Group, Inc.
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