Categories
Press Releases

Pacific Ventures Group Announces 40% Increase in Retail Sales at its San Diego Farmers Outlet

Pacific Ventures Group Announces 40% Increase in Retail Sales at its San Diego Farmers Outlet

Facebook
Twitter
LinkedIn

LOS ANGELES, CA – Accesswire – April 22, 2020 – Pacific Ventures Group, Inc. (OTC: PACVD) (the “Company”), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce that its San Diego Farmers Outlet (“SDFO”) has increased their retail sales by 40% over the past two months.

The rise in sales is due to retail business experiencing an increase in traffic. In addition, the Company has successfully shifted its drive to more foot traffic into the store during this unprecedented time of COVID-19. These customers are coming from local residents and nearby customers looking for shorter lines and stocked inventory in local stores versus the larger retailers.

Pacific Ventures Group Chief Executive Officer, Shannon Masjedi, stated, “despite the current challenges we all face, I am delighted to be able to report this period of substantial growth. We believe that 2020 will be in line with expectations with retail traffic adding sustained increase in sales. We expect that integration of product lines across our businesses will provide further growth in sales and increased value to our Shareholders.”

During these challenging times, this increase in retail sales should help offset the decrease in wholesale sales due to the COVID-19.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACVD) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com.  (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

Return To Press Releases
Categories
Press Releases

Pacific Ventures Executes Reverse Split to Enhance its Share Price to Attract Additional Shareholders

Pacific Ventures Executes Reverse Split to Enhance its Share Price to Attract Additional Shareholders

Facebook
Twitter
LinkedIn

LOS ANGELES, CA – Accesswire – April 14, 2020 – Pacific Ventures Group, Inc. (OTC: PACVD), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced a 1:500 reverse stock split that had been approved by majority shareholder action and effected as of this morning Monday, April 13, 2020. The Company’s symbol (PACV) will be appended with a “D” for 20 business days after which it will return to “PACV”.

The Board and Executive management team strongly believe this share restructuring is in the best interest of all shareholders and the time is right, given the recent combination and integration of Seaport Meat Company, San Diego Farmers Outlet and SnöBar under Pacific Ventures Group. The recently combined companies have achieved operating efficiencies and identified revenue growth opportunities that include, but are not limited to, increasing distribution points for each business for produce, dairy, meat, seafood and all other restaurant supplies.

Combined, San Diego Farmers Outlet and Seaport Meat Company generated $33 million revenue in 2019 and is well-positioned for growth with its larger customer base, expanded range of products, an expanded network of retail and institutional accounts.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “It has been a lengthy process to get to this point and has required a tremendous amount of teamwork. Working together with the Company’s shareholders, note holders, legal counsel and regulatory agencies, management strongly believes we have accomplished a significant step in preparing for the future of Pacific Ventures Group and the growth of Seaport Meat Company and San Diego Farmers Outlet.”

 Masjedi, concluded, “We have many goals to still accomplish, including a capital raise to prepare us for the growth of our businesses. Our team is focused on organic and acquisitive growth opportunities and believes over time our valuation will improve as we attract new shareholders. This action also puts us in better position to meet the stock price threshold to eventually list onto a major national exchange. Thank you to all our shareholders for their support, we remain excited about the future of Pacific Ventures Group.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACVD) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com.  (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

 
Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Provides COVID-19 Related Business Update

Pacific Ventures Group Provides COVID-19 Related Business Update

Facebook
Twitter
LinkedIn

LOS ANGELES, CA – Accesswire – April 8, 2020

Pacific Ventures Group, Inc. (OTC: PACV), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today provided an operational and strategic update in light of current global upheaval related to the COVID-19 pandemic.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “The evolving COVID-19 pandemic is impacting everyone and has led to challenging times from both a public health and economic perspective. In this time of uncertainty, global upheaval, and severe market volatility, Pacific Ventures Group is fortunate to have a dynamic team and platform with the ability to shift its business to areas of increased demand.”

Masjedi continued, “Our retail business has seen an increase in traffic, which has corresponded to an increase of 40% in sales. Additionally, we have successfully shifted our business to service key accounts. These customers include hospitals, nursing homes, senior assisted living and rehab facilities and have witnessed an increase in business. We are also seeking to expand our direct-to-consumer business and increase our opportunities online.”

Masjedi concluded, “Our team is fully operational and we are taking every precaution to keep our employees, vendors and customers safe and healthy. We have increased our sanitary procedures and remain vigilant with our effort to maintain an extremely clean and healthy working environment.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Pays Off Convertible Notes to Avoid Potential Equity Dilution

Pacific Ventures Group Provides COVID-19 Related Business Update

Facebook
Twitter
LinkedIn

LOS ANGELES, CA – Accesswire – April 8, 2020

Pacific Ventures Group, Inc. (OTC: PACV), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today provided an operational and strategic update in light of current global upheaval related to the COVID-19 pandemic.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “The evolving COVID-19 pandemic is impacting everyone and has led to challenging times from both a public health and economic perspective. In this time of uncertainty, global upheaval, and severe market volatility, Pacific Ventures Group is fortunate to have a dynamic team and platform with the ability to shift its business to areas of increased demand.”

Masjedi continued, “Our retail business has seen an increase in traffic, which has corresponded to an increase of 40% in sales. Additionally, we have successfully shifted our business to service key accounts. These customers include hospitals, nursing homes, senior assisted living and rehab facilities and have witnessed an increase in business. We are also seeking to expand our direct-to-consumer business and increase our opportunities online.”

Masjedi concluded, “Our team is fully operational and we are taking every precaution to keep our employees, vendors and customers safe and healthy. We have increased our sanitary procedures and remain vigilant with our effort to maintain an extremely clean and healthy working environment.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Expands its Food Distribution Geographic Reach to Open New Markets and Accelerate Revenue Growth

Pacific Ventures Group Expands its Food Distribution Geographic Reach to Open New Markets and Accelerate Revenue Growth

Facebook
Twitter
LinkedIn

LOS ANGELES, CA – Accesswire – January 20, 2020 – Pacific Ventures Group, Inc. (OTC: PACV), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced the expansion of its geographic reach for both San Diego Farmers Outlet (“SDFO”) and Seaport Meat Company (“SMC”).

Due to a recent uptick in demand for fresh high-quality produce in the San Diego area, in addition to the increase in capacity as a result of the acquisition of SMC, SDFO has been able to double its distribution reach from roughly 25 miles to a 50-mile radius.

Additionally, as a result of the synergies realized through the business relationship with SDFO, SMC has also been able to expand its distribution reach from approximately 75 miles to a 100-mile radius.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “While we enter 2020 with a larger customer base, expanded range of products, an expanded network of retail and institutional accounts and an expected annual revenue base of $33 million, our team has decided now is a prudent time to expand our geographic reach for both San Diego Farmers Outlet and Seaport Meat Company. This is just one idea we have identified to accelerate our revenue growth in 2020, which is a top priority for our Company.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com.  (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

 
Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Provides Strategic Plan and Synergies for its Recent Acquisition of Seaport Meat Company

Pacific Ventures Group Provides Strategic Plan and Synergies for its Recent Acquisition of Seaport Meat Company

Facebook
Twitter
LinkedIn

Targeting 10%+ Organic Growth from $33 Million Annual Revenue Base

LOS ANGELES, CA – Accesswire – January 6, 2020 – Pacific Ventures Group, Inc. (OTC: PACV), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased provide an update and strategic plan on its recently closed acquisition of Seaport Meat Company.

Pacific Ventures Group entered 2020 with a larger customer base, expanded range of products, an expanded network of retail and institutional accounts and an expected annual revenue base of $33 million.

Since 1983, San Diego Farmers Outlet (“SDFO”) has been San Diego’s premier supplier of affordable produce, dairy products and specialty groceries for retail customers and wholesale restaurants. SDFO generated approximately $5 million revenue in 2019.

While Seaport Meat Company (“SMC”) has been focused on its own manufacturing of custom processed beef, pork, chicken, lamb, veal and seafood and its distribution, primarily in southern California, over the past 30 years, there are opportunities for increased food product distribution. SMC generated approximately $28 million revenue in 2019.

SnöBar is a line of alcohol infused ice cream and ice-pops that initially launched in Arizona in 2013 and are available in liquor stores, restaurants and in grocery stores in specially branded freezers. Each serving of SnoBar’s ice cream and ice-pops features the equivalency of a full serving of alcohol. The Company is in midst of expanding SnoBar.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “We are pleased to have exited 2019 with the closing of our Seaport Meat Company acquisition. We now have a more significant food distribution platform to build upon in 2020 and beyond as we target at least 10% organic growth and seek additional acquisitions for geographic or food segment growth. Our team is already integrating the businesses to achieve operating efficiencies and identifying revenue growth opportunities that include, but are not limited to increasing distribution points for each business, produce, dairy, meat, seafood and all other restaurant supplies.”

Masjedi, continued,” We recognize that each distribution network can benefit from carrying and delivering additional food to its end customers, so that one plus one equals more than two. For example, SnoBar can now benefit from the increased distribution of both San Diego Farmers Outlet and Seaport Meat Company. Additionally, we believe Seaport Meat Company has experienced more demand than they can meet, so we have committed to increased inventory purchasing to meet such demand.”

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com.  (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:

ir@pacvgroup.com

 
Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Closes Acquisition of California Food Distribution Company

Pacific Ventures Group Closes Acquisition of California Food Distribution Company

Facebook
Twitter
LinkedIn

Combined Company Expects $33 Million Annual Revenue

LOS ANGELES, CA – Accesswire – December 18, 2018 – Pacific Ventures Group, Inc. (OTC: PACV), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced the closing of its previously announced planned acquisition of California food distribution company, Seaport Meat Company. Seaport Meat generated approximately $28 million in revenue over the past year, while serving customers in California and nearby states. The company is focused on the distribution of fresh food, frozen foods and other related products, primarily in southern California.

Ms. Shannon Masjedi, Pacific Venture Group’s Chief Executive Officer, commented, “We are extremely excited to enter this next phase for our business with the closing of the acquisition of Seaport Meat Company. We believe this transaction puts us at a major inflection point in building a significant food distribution platform company. We look forward to integrating the businesses, identifying operating efficiencies and accelerating our revenue growth.”

With the acquisition complete, the Company has a larger customer base, expanded range of products, an expanded network of retail and institutional accounts and an expected annual revenue base of $33 million. Management believes that additional revenue opportunities will present themselves with the combination of the two companies, as synergies have already been identified for increased food product distribution.

About Pacific Ventures Group, Inc.

Pacific Ventures Group, Inc. (OTC: PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar.)

Safe Harbor Statement

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Investors Contact:
Phone: 310-392-5606
ir@pacvgroup.com

 
Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Inc. Announces Securing Financing for the Acquisition of a California Food Distribution Company

Pacific Ventures Group Inc. Announces Securing Financing for the Acquisition of a California Food Distribution Company

Facebook
Twitter
LinkedIn

Los Angeles, Nov. 25, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Pacific Ventures Group (OTC PINK: PACV) (the “Company”), an investment group concentrating in food, beverage, and alcohol distribution, is pleased to announce today that it has secured financing to acquire a distribution company focused on food, frozen foods and other related products located in Southern California through its subsidiary.

Pacific Ventures Group began its due diligence process earlier this year and expects to close the transaction on or before December 15, 2019. The California food distribution company has current annual revenues close to $29 million, serves customers in the state of California and other nearby states. This acquisition complements the Company’s existing food distribution business which is operated by San Diego Farmers Outlet.

The acquisition will result in a food distribution business with greater revenues and profits, with consolidated gross revenues approaching $35 million. The company will also have a larger combined customer base, expanded range of products, and an expanded network of retail and institutional accounts.

Pacific Ventures Group and its management believe that the acquisition will create a substantial new revenue stream, in addition to that of the current distribution company San Diego Farmers Outlet.

About Pacific Ventures Group:

Pacific Ventures is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnoBar.)

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Inc. Announces Signing of Asset Purchase Agreement for California Food Distribution Company

Pacific Ventures Group Inc. Announces Signing of Asset Purchase Agreement for California Food Distribution Company

Facebook
Twitter
LinkedIn

Los Angeles, California, Aug. 21, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Pacific Ventures Group (OTC PINK: PACV) (the “Company”), an investment group concentrating in food and beverage distribution, announced today that it signed an Asset Purchase Agreement to acquire a distribution company focused on food, frozen foods and other related products located in Southern California through its subsidiary.

Pacific Ventures Group began its due diligence process earlier this year and expects to close the transaction after both parties complete their legal review. The California food distribution company has current annual revenues in excess of $30M, serves customers in the state of California and other nearby states. This acquisition complements the Company’s existing food distribution business which is operated by San Diego Farmers Outlet.

The acquisition will result in a food distribution business with greater revenues and profits. The company will also have a larger combined customer base, expanded range of products, and an expanded network of retail and institutional accounts.

Pacific Ventures Group and its management believe that the acquisition will create a substantial new revenue stream, in addition to that of the current distribution company San Diego Farmers Outlet.

About Pacific Ventures Group:

Pacific Ventures is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnoBar.)

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Return To Press Releases
Categories
Press Releases

Pacific Ventures Group Announces Successful Run of the SnöBar Product Line in its New Copacking Facility

Pacific Ventures Group Announces Successful Run of the SnöBar Product Line in its New Copacking Facility

Facebook
Twitter
LinkedIn

LOS ANGELES, CA, Aug. 08, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Pacific Ventures Group (OTC PINK: PACV) (the “Company”), an investment group concentrating in food, beverage and alcohol distribution, announced today that the SnöBar Product Line will be fulfilled for the east and west coast of the United States through its distribution centers.  This will allow the SnöBar brand to grow rapidly and be available to consumers over the age of 21.

The company will continue the sales of the SnöBar Product Line to its distributors which will allow customers to buy on demand.

About Pacific Ventures Group: 

Pacific Ventures is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com.  (You must be at least 21 years of age (legal age to consume alcohol) to visit the section of the web site dedicated to SnöBar www.snobarcocktails.com)

Forward-Looking Statement: 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 but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.

Pacific Ventures Group
310-392-5606
info@pacvgroup.com

 
Return To Press Releases