Acquisitions aggressively being pursued
LOS ANGELES, CA – July 5, 2017 – Pacific Ventures Group (OTCPink: PACV) (the “Company”), an investment group concentrating in consumer products, food, beverage and alcohol-related industries, is proud to announce to the public.
2017 Acquisitions Closed
- On June 2, 2017, PACV acquired Fresh and Healthy Markets LLC, a Long Beach, California-based healthy food and grocery retailer. This acquisition will provide additional immediate revenue streams and allow us to further improve the customer experience and drive sales. It will also bring exposure of the Snobar brand directly to the consumers in southern California. Additionally, this acquisition will be used to fulfill online orders west of the Mississippi.
This acquisition was closed for an issuance of 500,000 shares of PACV common stock. All of the stock issued for this acquisition is subject to a 4 year leak-out and lock-up agreement. The market is expected to have a revenue stream in excess of $600,000 per year.
- On June 22, 2017 PACV acquired Healthy Foods LLC, a Carson, California-based healthy food and grocery retailer. This acquisition will provide additional and immediate revenue streams. It will also bring exposure of the Snobar brand directly to the consumers in southern California.
This acquisition was closed for an issuance of 3,500,000 shares of PACV Common Stock. All of the stock issued for this acquisition is subject to a 4 year leak-out and lock-up agreement. This market is expected to have revenue streams in excess of $1,200,000 per year. This acquisition also included the real estate valued over $1,400,000.00.
For more details on our progress, please refer to our recent SEC filings at https://www.otcmarkets.com/stock/PACV/filings.
This is an exciting time for the Company. At the heart of our growth strategy has been a firm commitment to innovation – one that not only drives our growth, it also defines our Company. We intend to aggressively pursue acquisitions to enhance shareholder value and are currently in discussions with several potential candidates.
Additional 2017 objectives include broadening our customer base, continued development of innovative products, and revenue growth by increasing existing product sales.
Our entire team is energized, focused and committed to delivering long-term value.
Pacific Ventures Group, an investment group concentrating in consumer products, food, beverage and alcohol-related industries, is a publicly-traded company based in Los Angeles, California. PACV attributes its success to the unique blend of our history, culture, brands, relationships, innovation, technology and most importantly, our leadership. For more information on PACV, please visit www.pacvgroup.com.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with smaller reporting companies, including without limitation, other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.
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