ORLANDO, Fla., Jan. 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- PRESS RELEASE -- Elev8 Brands, Inc., a holding company focused on the commercial development of hemp- and CBD-based products, has announced it has acquired Blessed Bean Coffee, LLC.
Elev8 Brands, Inc. continues to execute on opportunities for potential growth. The company is now able to control the means of production from start to finish. Elev8 Hemp, LLC, a wholly-owned subsidiary of the company, has seen tremendous growth over the last 12 months and should continue to do so throughout 2019. The company has acquired Blessed Bean Coffee, LLC for 3,541,228 restricted common shares of Elev8 Brands, Inc. With the growing demand for Elev8 Hemp Coffee, the company plans to purchase a larger roaster and other miscellaneous equipment to increase productivity and continue increasing the volume.
Blessed Bean Coffee, LLC is a private label roaster based out of Longwood, FL that was founded in 2005. Bean has been working closely with Hemp since the end of 2017. Robie Leavitt, CEO of Blessed Bean Coffee, LLC, sold his dairy farm in Maine and moved to Florida to pursue his passion to produce fresh cups of coffee.
Leavitt stated, "This is a great move for both companies. Ryan and I have had a great working relationship for over a year now and this should be a step in the right direction."
CEO of the company, Ryan Medico, stated, "We hope this is going to be an amazing year. We have been working diligently on expanding distribution, creating opportunities to expand sales and streamline manufacturing. This acquisition creates potential to do all of these things and ensure that production can keep up with our expansion, cutting costs and significantly increasing the bottom line."
Elev8 Brands, Inc. is pleased to announce its newest distributor, Synergy Distributors. Based out of Milwaukee, Synergy has its goals set on being the premier distributor of hemp and CBD products in Southeastern Wisconsin.
Medico concluded, "Working with Synergy has been great. They have placed their first couple of orders already and have a lot of interest in our new CBD Infused Ready to Drink Iced Tea and Iced Coffee. We hope to grow and expand with them greatly over this next year. This new distributor keeps us on track to hit our goal in 2019 of adding over 20 distributors. We have meetings with new distributors set and expect to have expansion to report on over the next few weeks."
