Elev8 Brands, Inc. Acquires L & P Cold Brew, LLC to enter $71 Billion Market
Company’s Financial Audit Should be Completed Within 30 Days
ORLANDO, Fla., June 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Elev8 Brands, Inc. (OTC Pink:VATE), a holding company focused on the commercial development of hemp and CBD-based products including hemp coffee, tea, CBD salve, CBD Lotions and CBD Tinctures that target the health and wellness markets, is pleased to announce the acquisition of L&P Cold Brew, LLC from Blessed Bean Coffee, a Florida Limited Liability Company. The acquisition allows Elev8 Brands to enter the ready to go market, which according to Food Business News, the global sales of ready to go coffee and tea market in 2015 was $71.4 billion.
Elev8 Brands acquired the newly formed L&P Cold Brew to launch its new cold brew product line and to make it a more versatile company adding additional revenue through vertical markets.
"We have had tremendous success with our Blessed Bean Coffee company and have been eager to expand our business into the cold brew sector”, stated Robie Leavitt, Managing Member of Blessed Bean Coffee, "Working with the Elev8 team has given us the ability to open up a new division of our already profitable business to provide cold brew to our existing customers as well as the ability to create new customers from this high demand market of ready to go coffee drinks.”
According to a report by Grand View Research, Inc. the global ready to drink tea and coffee market size is expected to reach 116.13 billion USD by 2024. US Sales alone in 2017 were over $38.1 million which is up over 460% from 2015.
Ryan Medico, CEO of Elev8 Brands, Inc. stated, "As we see the market for ready to go coffee and tea drastically increasing, we must jump on the opportunity to develop our own cold brew coffee. Of course, our coffee will differentiate itself amongst the others as Elev8 will infuse organic hemp protein."
Elev8 Brands is also pleased to announce that within thirty days its audit should be complete per Ben Borgers of BF Borgers CPA PC. Elev8 Brands has submitted its second round of information and will soon be completing its application process to up-list to the OTCQB.
Medico concluded, "This is a very exciting time for the company. We are seeing and experiencing growth in all subsidiaries from private label hemp coffee and CBD to new retail accounts and acquisitions. Elev8 Brands is set to have its biggest quarter yet."
About Elev8 Brands, Inc.:
Elev8 Brands, Inc. specializes in the development and marketing of products for the fitness and wellness markets. The company is founded based on creating high-quality, sustainable, products for health- conscious consumers.
About Elev8 Hemp LLC:
Elev8 Hemp LLC is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the development and marketing of hemp-based food, beverage, and health care products including hemp coffee and hemp tea.
About 02 Breathe LLC:
02 Breathe is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on their oxygen bar while bringing in an array of CBD products. O2 Breathe carries CBD tinctures, CBD vape, CBD lotions and massage products. 02 Breathe is currently looking to offer CBD at their oxygen bar.
About Zoe CBD LLC:
Zoe CBD is a wholly-owned subsidiary of Elev8 Brands, Inc. which focuses on the development and marketing of CBD-based products such as CBD Tinctures, CBD E-Juice, CBD Lotion and CBD Salve.
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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. 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.
Contact:
Ryan Medico
