Kona Gold Beverage Inc. (OTC:KGKG) Reaches Distribution Agreement with A&B Distributors
Naples, FL
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February 20, 2023 07:44 PM Eastern Standard Time
In the past few years, the beverages sector has grown at a significant rate amidst rising demand from investors for a variety of beverages. One of the companies that could be said to be at the forefront of the innovative beverages space at this point is Kona Gold Beverage Inc. (OTCMKTS:KGKG).
The company operates through a range of subsidiaries and is best known for having come up with wellness beverages. One of its better-known products is its hemp-laced energy drink and another of its subsidiary units has developed a CBD-based beverage that is available in as many as 6 different flavors.
On February 15, Kona Gold announced that it had inked a distribution agreement with the firm A&B Distributors. A&B is going to be responsible for distributing the company’s 16oz Ooh La Lemin and 12oz Sparkling Ooh La Lemin lemonade products in the states of Texas, Arkansas, and Oklahoma.
It was a major new development for KGKG, considering the fact that its products were going to be made available across a much larger market, comprising a combined population of around 14 million. A&B is going to help in distributing the two products across the states of Oklahoma and Arkansas to go along with 19 counties in the state of Texas. A&B Distributors had been established back in 1979 when it had 7 employees and 1 supplier.
Now, A&B is one of the more successful distributors, with more than 300 employees, along with 75 plus suppliers. It is a distributor that is known for exceeding the expectations of its suppliers and for executing the growth plans of the suppliers consistently.
KGKG stock has also managed to perform strongly in recent times and is perhaps another factor why Kona Gold is attracting attention.
Earlier on in the month on February 2, KGKG announced that for the month of January, it had managed to surpass $500,000 in revenues. It was the highest monthly revenue that had been recorded by the company in its history.
Considering the fact that the revenues back in January 2022 was only $275,000 it was a significant improvement. In this context, it is also necessary to note that the months of December and January are generally regarded as slow months in the beverage industry. Hence, the performance from Kona Gold was particularly impressive. The revenue targets had also been hit by Gold Leaf Distribution LLC and Kona Gold LLC, its two subsidiaries.
The company has been striking deals with distributors on a consistent basis and back on January 31, 2023, it announced that it had inked a distribution agreement with Norman Distributor, based out of Illinois.
Norman would be responsible for distributing the company’s 16oz Ooh La Lemin and 12oz Sparkling Ooh La Lemin lemonade products in the greater Chicagoland Area. It would also be responsible for distributing the products to major markets like Walmart, Woodman’s, Butera, Mariano’s, and Pete’s Fresh Market.
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Mark McKelvie
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