Marion, North Carolina, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Greene Concepts, Inc. (OTC Pink: INKW) is happy to announce it is in discussion with a firm to purchase its sports hemp beverage company as a wholly owned subsidiary under the Greene Concepts banner. The sports hemp beverage company is a manufacturer and distributor of all-natural hemp infused sports drinks available in multiple flavors. This will extend Greene Concepts' reach into the sports drink industry valued at $22.37 billion in 2018 with a compound annual growth rate (CAGR) of 7.8% over the forecast period according to Grand View Research .
It is estimated that about 60% of males and 40% of the female population in the U.S. are usual consumers of sports drinks, amounting to over 165 million people. The U.S. population as of the April 1, 2020 U.S. Census was 331,449,281. The possible acquisition of this new company features a brand of products that include quality produced hemp extract to capture a portion of the sports drink market and subsequently a notable part of the U.S. population. Each product maximizes potency and bioavailability (the rate at which hemp is absorbed into the bloodstream).
Lenny Greene, CEO of Greene Concepts, states, "As noted by Grandview Research, sports drinks help athletes and individuals replace electrolytes, energy and water before, during or after a competition or training and the demand for these drinks continue to rise. Because of the popularity of sports drinks in our current market, I want to let everyone know that we are in discussions with a hemp infused sports drink beverage company and looking to incorporate its company and product line into Greene Concepts as a wholly owned subsidiary. This company has inventory on-hand ready to sell, which we would begin to do immediately. If completed, the new company would significantly increase our product SKU's and overall sales for Greene Concepts as we penetrate a new market segment. Consumers of this new product line, both athletes and everyday users, will receive high levels of revitalization and relaxation to support the body."
Mr. Greene concludes, "With this new subsidiary, we would retain the firm's previous management to help grow the brand and meet the growing demand for healthier, great-tasting artesian hemp-infused flavored water and sports drinks. This market segment continues to grow, and we will be on the cusp of this continued growth. The products have all been developed by its team leader who is also an executive chef. As we continue discussions toward a possible acquisition, we will keep everyone apprised of progress. We continue to our march toward growing Greene Concepts and maximizing shareholder value."
About Greene Concepts, Inc.
Greene Concepts, Inc. ( http://www.greeneconcepts.com ) is a publicly traded company with the company's main plant operations in Marion, North Carolina. The Company owns and operates a bottling and beverage facility. The bottling facility has as its water sources a combination of seven spring and artesian wells that are fed from a natural aquifer that is located deep below the Blue Ridge Mountains. The Company specializes in its premium artesian bottled water brand, BE WATER ( www.bewaterbeyou.com ), to support total body health and wellness.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a few uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events or otherwise.
CONTACT:Greene Concepts, Inc.Investor Relations IR@greeneconcepts.com