Kona Gold Beverage Inc (OTCMKTS:KGKG) Stock Doubles in a Week: What’s The Buzz?

If you are currently looking into options in the beverages industry then it could be a good move to take a look into the Kona Gold Beverage Inc (OTCMKTS:KGKG) stock. The company, which is involved in developing wellness and functional beverages, was in the news yesterday after it announced that it had signed a distribution agreement with J&K Distribution, a company based out of San Francisco.

Kona Gold Beverage, Inc Signs Distribution Agreement with J&K Distribution in San Francisco

The announcement came as a source of considerable optimism for investors and the Kona Gold Beverage stock shot up by as much as 30% amidst heavy interest. It is going to be interesting to see if the stock can add to its gains over the course of the coming days or not.

It should be noted in this regard that J&K Distribution is going to be responsible for the distribution of the 16 ounces non-sparkling and 12 ounces sparkling Ooh La La Lemonades in the San Mateo and Santa Clara counties in the state of California. This is the second distribution partner that Kona Gold Beverage signed up for the California market in the past four months. J&K Distribution has been in the distribution business for the last six year and primarily serves the Northern California region.

Key Quote

“I am excited to announce to our stockholders and customers that we have partnered with another California based distributor to bring Ooh La Lemin to the state of California,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “With the recent partnership with SEI, Inc in late 2022, to help accelerate growth, we have set an aggressive goal to achieve 100% DSD coverage in the U.S. within the next 2-3 years. Expansion out West is key to making that happen.  This marks the second distribution partner we have signed in Northern California in a short amount of time.”