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.
