CBD Food and Beverage Stock News: Sun Kissed's (OTCMKTS: $SKDI) Subsidiary, Hakuna, Increases Output 300%-500%
Completed expansion and installation of its new Clean Room facility
Hakuna is an award-winning CBD-products company, currently nominated for "Best Hemp-Derived CBD Product" by the California Cannabis Awards
NEW YORK - April 21, 2020 (Investorideas.com Newswire) Breaking cannabis/CBD stock news - Sun Kissed Industries Inc. (OTCMKTS:SKDI) ("Sun Kissed", "SKDI"), an emerging leader in the CBD Food and Beverage marketplace, is excited to announce that its recent acquisition, Products Group Inc, DBA/ Hakuna Supply ("Hakuna" or the "Company"), has completed expansion and installation of its new Clean Room facility, which includes a newly installed industrial mixer, a Nespresso Capsule filling machine, and a Bagged Coffee filling machine.
The U.S. CBD-infused drinks market, one of the fastest-growing segments in the CBD industry, is forecast to reach $1.4 billion by 2023, according to Zenith Global.
The new Clean Room facility has sharply increased the Company's revenues and productive output:
- Nespresso Capsule production increased from 2,000/day to 10,000/day
- Bagged Coffee filling machine driving 500% increase in per day bagged coffee production
- New capability to produce single serve instant coffee pouches
- Cost of goods sold expected to drop approximately 30% on a per unit basis
"The results of our hard-working team have resulted in significantly increased output across all our product lines and decreased order-to-shipment time frames," commented Hakuna CEO, Ilan Freeman. "In addition, we have seen demand increase over the past couple of months ahead of our expanded marketing efforts."
The newly expanded and enhanced Clean Room went into full use at the beginning of April. Hakuna online sales have increased 30% since the COVID-19 'lock-downs'. The expanded facilities and new equipment, along with increased marketing investments, have Hakuna projecting increased revenues across all online product lines on a month-over-month and year-over-year basis.
Hakuna, a wholly owned subsidiary, is an award-winning CBD-products company, currently nominated for "Best Hemp-Derived CBD Product" by the California Cannabis Awards after winning the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017. Hakuna was also just awarded "Runner Up" at the Los Angeles Coffee & Donut Festival People's Choice Coffee Awards for 2019. Hakuna generates significant revenues with a substantial distribution footprint, including over 110 established retail distribution partners across over 20 states in the domestic US market.
About Sun Kissed Industries, Inc.
Sun Kissed Industries Inc. (OTCMKTS:SKDI) is an emerging leader in the CBD-based products marketplace. The Company is pursuing meaningful technology acquisitions as part of an aggressive M&A strategy designed to position Sun Kissed as a dominant player in a well-defined, high-growth niche within the rapidly expanding CBD sector.
About Supply Group, Inc. /DBA Hakuna
Hakuna is a well-established retail CBD Company, based out of California. It sells a range of leading consumer products spanning the premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies, and CBD Flower product markets. Hakuna is currently nominated for "Best Hemp-Derived CBD Product" by the California Cannabis Awards after winning the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017.
This press release may contain forward-looking statements, including information about management's view of Sun Kissed Industries Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Sun Kissed, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Sun Kissed's future results. The forward-looking statements included in this press release are made only as of the date hereof. Sun Kissed cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Sun Kissed undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Sun Kissed.
SOURCE: Sun Kissed Industries Inc.
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