The Company enters new US Markets with its beverage portfolio
Melbourne, FL, Aug. 08, 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 subsidiary, Kona Gold LLC, has 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 continues to have record monthly and quarterly sales and anticipates that growth to continue through the rest of the year. By expanding its sales team and adding new distribution partners, the Company anticipates having a very strong second half of the year as it already has a record sales year in 2022.
"I'm very excited to announce the addition to our sales team with the recent hiring of our new West Coast Region Territory Manager, Brett Catanzaro, and our new Wisconsin Territory Manger, Mike Kardelis," stated Robert Clark, CEO of Kona Gold Beverage, Inc. "Both gentlemen come to us with great experience in growing beverage brands and are already making a big impact on our team. I'm looking forward to them growing our Wisconsin market and expanding into California, Nevada, and other states on the western side of the United States."
Kona Gold Beverage recently announced its second quarter gross revenue was the highest quarterly gross revenue in Company history. The Company's subsidiaries combined gross revenue was approximately $1,230,000 for the second quarter with subsidiary breakdowns of approximately $955,000 from Gold Leaf Distribution LLC and approximately $275,000 from Kona Gold LLC. Kona Gold Beverage's 2022 Q2 revenue is an increase of approximately 15% from the previous quarter and an increase of approximately 44% from the same quarter in 2021.
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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.
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