The beverage sector has been growing at an impressive pace in recent times and there are plenty of options for investors who may be looking for options. One of those options could be Kona Gold Beverage Inc (OTCMKTS:KGKG). It operates as a holding company and involved in the development and distribution of functional and healthy beverages.
Trading Data
On Wednesday, KGKG stock rose 4.48% to $0.0070 with more than 10.24 million shares, compared to its average volume of 14.95 million shares. The stock moved within a range of $0.0065 – 0.0075 after opening trade at $0.0070.
Kona Gold Beverage, Inc Signs Distribution Agreement with A&B Distributors to Distribute Ooh La Lemin Lemonades in Arkansas, Oklahoma, and Texas
Yesterday, the company had come into the news cycle after it 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 Lemonades and 12oz Sparkling Ooh La Lemin in the states of Texas, Arkansas and Oklahoma.
The company’s distribution foot print is going to encompass the entirety of the states of Oklahoma and Arkansas to go along with 19 counties in Texas. It was a major new development for Kona Gold since the distribution agreement would open up significantly sized new markets for lemonades.
The combined population of the markets comes to around 14 million and that could prove to be a major long term boost. A&B had been established back in 1979 and at the time it only had 7 employees. However, the company has grown by leaps and bounds and now boasts of 300 employees to go along with more than 75 suppliers.
Key Quote
“I am pleased to announce to our stockholders and customers, Ooh La Lemin is coming to the great states of Arkansas, Oklahoma, and Texas,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “We have partnered with the A&B Distributors, the leading distributor in those regions, and our team is excited to launch our Ooh La Lemin Lemonades in these new markets. With 6 warehouse locations, growing to 10 in 2023, A&B Distributors will make a big impact over a large geographical location and get our Ooh La Lemin Lemonades in more consumer hands.”
