CORNELIUS, N.C. -- April 14, 2021 -- InvestorsHub NewsWire --
Good Hemp, Inc. (the "Company") (OTC
Markets: GHMP) announces it has closed its acquisition of
Diamond Creek Group as a wholly-owned subsidiary of Good Hemp. This
announcement underscores the Company's plan towards expanding its
consumer reach through strategic brand acquisition.
Forecasts for the Functional Water market anticipate record growth,
as it is expected to
reach $18.24B by 2025, with much of the increase
coming from North American and Asian territories. Additionally, the
high alkaline water market has proven growth year over year,
reporting 12% growth every year since 2013. Analysts believe this
market alone could be worth $4.3
billion by 2023, with 96% of the sales coming
from Japan and North America.
As a key driver in market demand, the North American demand for
functional and alkaline water has increased more than 44% since
2013. Although bottlers, such as Essentia and Core, have led the
charge, other players, such as Coke's Smart Water Alkaline, which
launched in 2019, have further developed the sector. With the
acquisition of Diamond Creek Water, Good Hemp is positioning
itself to capitalize on this extraordinary market growth.
"I am very excited about the closing of the acquisition with
Good Hemp, Inc. I have spent over a decade building this business
and connecting with customers looking for a quality hydration
solution. Through this acquisition, Good Hemp is positioned to take
Diamond Creek to the next level, and I am thrilled to remain part
of the team," Ken Morgan, Founder of Diamond Creek,
stated.
Good Hemp is wasting no time with the expansion. Good Hemp and
Diamond Creek have already leveraged Good Hemp's marketing
partnership with Spire Sports, including sponsorship
on the Spire Motorsports No. 77 entry in the NASCAR
Cup Series. Good Hemp has also added Diamond Creek products to
the Amazon network, which has seen substantial
growth over the past six months.
In addition, Good Hemp stands to benefit from several other
factors and strategic decisions stemming from the Diamond Creek
acquisition. Through Diamond Creek's distribution
network, Food Lion
announced an expansion including the addition of sixty-two
Bi Lo and Harvey's Supermarkets stores. Meanwhile, Harris
Teeter is running a special promotion for Spring which
provides additional shelf space and end caps for Diamond Creek's
product line.
The increased retail visibility comes on the heels
of Diamond Creek Water's Amazon Store launch, a move to
capitalize on the alkaline water category which does millions of
dollars in online sales annually. Diamond Creek also plans to
leverage Good Hemp's broker and distribution network as opposed to
remaining focused only on DSD.
"We are thrilled to have Ken Morgan as a part of our
growing team. Ken and Diamond Creek add a complimenting
facet to our overall acquisition game plan and building shareholder
value. We vetted several strategic acquisitions before closing on
Diamond Creek and continue to look at other opportunities to expand
sales, streamline operations, and increase our earnings per
share," Bill Alessi, CEO of Good Hemp, stated. Alessi
continued, "We believe that with current Diamond Creek sales alone,
we can increase our FY 2021 revenue by greater than 500%. Pair that
with a fine-tuned marketing team under our hood, and we are off to
the races - pun intended."
About Good Hemp Products -
Good Hemp, Inc.'s beverage lineup consists of Good Hemp Fizz and
Canna Hemp, functional carbonated beverages infused with natural
ingredients and made with hemp seed oil, which is categorized as
"GRAS" (under sections 201(s) and 409 of the Federal Food, Drug,
and Cosmetic Act, and therefore not subject to FDA review and
approval). Good Hemp 2oh! is a line of naturally flavored waters
infused with 10mg of THC-free hemp extract and prebiotic fiber.
These products are available online from Amazon and goodhempinc.com
Good Hemp Wellness will be launching with a line of cannabidiol
gel caps consisting of a fast-acting, proprietary, self-emulsifying
formulation aimed at providing consumers with American-made CBD
products they can trust.
Diamond Creek manufactures ionized 9.5pH high alkaline natural
spring water, sourced from the highest quality, award-winning
springs in Ohio, Pennsylvania, and Tennessee.
Available in three sizes: 1 gallon, 1 liter and 500 mL bottles.
Visit www.diamondcreekwater.com for more
information.
FDA Disclaimer -
The CBD softgel and beverage products and the statements made about
them in this press release have not been evaluated by the United
States Food and Drug Administration (FDA). These products are not
intended to diagnose, treat, cure, or prevent any disease.
Safe Harbor Statement -
This press release may contain forward-looking information that
involve a number of risks and uncertainties made pursuant to
Section 21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act") and the safe-harbor provisions of the Private
Securities Litigation Reform Act of 1995, including all statements
that are not statements of historical fact regarding the intent,
belief or current expectations of the company, its directors or its
officers with respect to, among other things, the company's
business plans and the company's growth strategy and operating
strategy. Words such as "strategy," "expects," "continues,"
"plans," "anticipates," "believes," "would," "will," "estimates,"
"intends," "projects," "goals," "targets" and other words of
similar meaning are intended to identify forward-looking statements
but are not the exclusive means of identifying these statements.
Investors are cautioned that any forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of numerous
and varied factors. Good Hemp, Inc. does not undertake to update
any forward-looking statements except as required by applicable
law. All subsequent written and oral forward-looking statements
attributable to the company or any person acting on behalf of the
company are expressly qualified in their entirety by the cautionary
statements referenced above.
Contact:
Good Hemp, Inc.
+1 (800) 947-9197
contact@goodhempinc.com
Good Hemp (PK) (USOTC:GHMP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Good Hemp (PK) (USOTC:GHMP)
Historical Stock Chart
From Apr 2023 to Apr 2024