LOS ANGELES, CA , May 01, 2018 (GLOBE NEWSWIRE) -- Pacific Ventures Group (OTC: PACV), an investment group concentrating on consumer products, food, beverage and alcohol-related industries, today announced that their wholly-owned subsidiary, Royalty Foods Partners, LLC, a Nevada limited liability company, has acquired San Diego Farmers Outlet, Inc.
San Diego Farmer’s Outlet is an established retailer and wholesale distributor of food, beverages and produce that generates more than $4M annually, which PACV’s management believes can be significantly enhanced. It has been in business for more than 35 years. It is planned that the existing premises will be expanded to further increase West Coast sales of Snobar alcohol-infused products, a premier product developed by PACV, at www.pacvgroup.com . (You need to be an adult to visit the section of the web site dedicated to Snobar.)
The transaction includes five trucks currently in the delivery fleet and ample freezer storage to meet the anticipated demand for the Snobar frozen product line. San Diego Farmers Outlet’s 20 management and employees will act as a wholesaler and distributor for the Snobar brand. The firm currently serves both retail and institutional accounts.
Shannon Masjedi, CEO President of PACV, commented: “We take possession of San Diego Farrmers Outlet today. We are excited to build on the success of San Diego Farmers Outlet, Inc. This acquisition is a strategic fit and has a tremendous potential for significant growth in additional U.S. markets by allowing us to achieve new business and gain synergistic benefits.”
Pacific Ventures Group: An investment group concentrating in consumer products, food, beverage and alcohol-related industries, is a publicly-traded company based in Los Angeles, California. PACV attributes its success to the unique blend of our history, culture, brands, relationships, innovation, technology and most importantly, our leadership. For more information on PACV, please visit www.pacvgroup.com.
Forward-Looking Statement This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.