Melbourne, FL , Oct. 05, 2021 (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 wholly owned subsidiary, Gold Leaf Distribution, has posted record monthly revenue for September and record quarterly revenue for Q3. Gold Leaf Distribution ended September with approximately $150,000 in revenue and ended the quarter with approximately $380,000 in revenue. Gold Leaf Distribution’s September revenue was approximately a 25% increase from its previous record month and approximately a 16% increase from its previous record quarter in Q2. Gold Leaf Distribution has earned approximately $890,000 through the first three quarters of 2021, with gross margins of approximately $266,000 and is on path to hit 2021 projections of $1.2 million in revenue.
Gold Leaf Distribution’s announcement comes on the hill of it recently signing a warehouse lease in Conway, SC which is approximately 30 minutes outside of Myrtle Beach, SC, a popular tourist destination. The new Conway location is comprised of 10,000 sq ft of warehouse and office space. The expansion will allow Gold Leaf Distribution to now cover 75-80% of South Carolina. Gold Leaf has hired VP of Operations, Peter Troy to lead efforts at the Conway location. In addition, the Company will be filling two additional sales positions for that location within the coming weeks.
Kona Gold Beverage had its highest grossing third quarter revenue when compared to previous third quarters in Company history. The Company continues to see fantastic growth, which has facilitated hiring across all subsidiaries.
“I am excited to announce to our shareholders the Company had its strongest third quarter in Company history,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “The third and fourth quarters in beverage are usually the slower time of the year, yet we continue to expand, hire, and have record revenue months and quarters.”
Kona Gold will be exhibiting at this years NACS Show this week in Chicago where it will be exhibiting its beverage brand portfolio to key buyers around the country. NACS is the leading global trade association dedicated to advancing convenience and fuel retailing.
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 acquired S&S Beverage, Inc., which manufactures and distributes LEMIN Superior Lemonade line; please visit its website at www.drinklemin.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@konagoldbeverage.com
