Kona Gold Beverage, Inc. Announces Acquisition of S&S Beverage
January 25 2021 - 8:00AM
InvestorsHub NewsWire
Kona Gold Beverage, Inc. Announces Acquisition of
S&S Beverage
Melbourne, FL -- January 25, 2021 --
InvestorsHub NewsWire -- Kona Gold Beverage, Inc. (OTCQB:
KGKG), a holding company focused on product development in the
hemp and CBD functional beverage sector, is pleased to announce the
acquisition of S&S Beverage, Inc., the makers of LEMIN Superior
Lemonade. Established in 2018, LEMIN Lemonade is a delicious,
low calorie, better-for-you lemonade available in 4 flavors,
Original, Blue Raspberry, Peach, and Strawberry. LEMIN is
available around the country in popular chains, such as Kroger
Wisconsin and Illinois stores, Sheetz, Woodmans, Festival Foods,
Plaid Pantry, regional 7Elevens, Circle K North and South Carolina
stores, and continues to focus on growth through grocery and
C-store chains and large distribution
partners.
Kona Gold Beverage acquired S&S Beverage through
a combination of cash and stock. The founder and creator of
LEMIN, Bill Stineman, has joined the Kona Gold team as our VP of
Product Management and Innovation. In 2019, S&S
Beverages’ first full year of sales of LEMIN, it sold close to
$900,000 in product.
“I am excited to be sharing with our stockholders the
acquisition of S&S Beverage, makers of LEMIN Superior Lemonade,
which is truly the best lemonade on the market,” stated Robert
Clark, CEO of Kona Gold Beverage, Inc. “LEMIN will provide Kona
Gold Beverage with a mainstream, better-for-you, beverage product
in its portfolio, opening many doors for our existing
products. LEMIN has already established itself in many
popular chains around the country and we expect to announce
additional chains for the 2021 Spring
sets.”
“I am beyond excited to partner and join the Kona
Gold Beverage Team,” stated Bill Stineman, VP of Product Management
and Innovation of Kona Gold Beverage, Inc. “Kona Gold will
provide a strong financial backing to help innovate, expand
and grow all of our brands. By combining our sales channels
and Kona Gold’s back office support, we will have the opportunity
to take LEMIN and Kona Gold’s beverage portfolio to the next level
of retail chain relationships and larger distributor
networks. I look forward to helping expand Kona Gold’s
current Brands through LEMIN’s national chain and direct store
delivery (“DSD”) customers, as well as expanding LEMIN through Kona
Gold’s established network of DSD
Distributors.”
For more information regarding LEMIN Superior
Lemonade, please visit:
https://www.drinklemin.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 and its family of
companies are located on the east coast of Florida in Melbourne and
in Greer, 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@konagoldhemp.com
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