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MELBOURNE, Fla., March 8, 2021 /PRNewswire/ -- 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 February 2021 revenues from the Company's subsidiaries were the highest monthly revenues when compared to the previous monthly revenues over the last 15 months.
Kona Gold LLC saw revenue of over $115,000, and Gold Leaf Distribution saw revenue of almost $60,000 in the month of February. This was the highest monthly revenue for Kona Gold LLC dating back to November of 2019, and Gold Leaf Distribution LLC's highest monthly revenue to date. Gold Leaf Distribution continues to break monthly revenue records and is nearing profitability. Kona Gold LLC realized an increase in a gross profit margin of approximately 22% in February of 2020 to approximately 40% in February of 2021. Gold Leaf Distribution LLC continues to operate at a gross profit margin ranging from 28-30%, which is above industry standards of approximately 25%.
The catalyst for the increased revenue for Kona Gold LLC is from the recent acquisition of S&S Beverage (Lemin Lemonade) with new distributor agreements and subsequent orders beginning to come in for the upcoming spring sets. Additionally, the Company has seen increased sales from the Company's other portfolio products, Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. Gold Leaf Distribution LLC's catalyst for the increased revenue has come from cultivating relationships with existing accounts, opening new accounts, and adding more profitable, higher demanding products to its portfolio.
Kona Gold Beverage anticipates its subsidiaries will continue to have a substantial increase in revenue in March, as an increase has been evident in a very strong start to sales in the beginning of March. Additionally, an increase in sales expected in the coming months of 2021 as the Company enters into the historically busier beverage seasons of spring and summer.
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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.
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