Yahoo Finance Loud Beverage Group, Inc. Acquires Surge Distribution LLC, A Rising Star in the Distribution Sector
Corporate Leadership Transition Brings Strong Revenue Forecast for 2024
GREER, S.C., Jan. 16, 2024 /PRNewswire/ -- Loud Beverage Group, Inc. (OTCPK: LBEV), a holding company specializing in the distribution of a diverse range of high quality, innovative, and in-demand products, is pleased to announce its successful acquisition of Surge Distribution Company, LLC, a South Carolina based company.
Surge Distribution is poised to attain a remarkable $5 million in revenue for 2024, with an ambitious projection to double this figure by 2025. Operating from a 30,000 square foot facility in Greer, SC, the company is strategically venturing into high-potential markets including Charlotte, North Carolina, Central Florida, Tampa, FL, and Jacksonville, Florida, in 2024 and 2025. According to recent industry reports, these areas represent thriving markets with significant growth potential in the distribution sector.
Surge Distribution Company, takes great pride in being the preferred supplier for a diverse array of high quality, innovative, and in-demand products. Their commitment extends beyond the mere delivery of goods; they aspire to establish long-lasting partnerships grounded in trust, reliability, and mutual success. Their expansive product range caters to the ever-evolving demands of the market, ensuring their retail partners receive not only quality but also superior customer service to maintain a competitive edge.
Central to Surge Distribution Company's mission is the cultivation of a knowledgeable, motivated, and professional team. They ardently believe that a dedicated team constitutes the backbone of any successful venture. Through fostering a culture of continuous learning, empowerment, and accountability, they ensure that their team is adept in providing unparalleled service to its valued clients.
They prioritize sustained growth for their clients, viewing their success as intrinsic to its own. Through strategic partnerships and an unyielding commitment to a customer-centric approach, they aim to contribute substantively to the prosperity of the businesses they serve. Their commitment to excellence transcends the mere distribution of products; it is ingrained in every facet of their operational endeavors.
"At Loud Beverage Group, we are thrilled about the acquisition of Surge Distribution Company. This strategic move aligns seamlessly with our commitment to transformative growth and unparalleled service in the dynamic distribution landscape," states Brandon Spikes, the newly appointed Chief Executive Officer and Chairman of the Company.
Chris Selinger, the newly appointed Vice President of Operations, adds, "The pace at which Surge Distribution is expanding is truly remarkable. We are excited about the immense opportunities this acquisition brings and are poised to deliver numerous exciting updates to our shareholders this quarter, as we anticipate rapid and substantial growth."
This marks a historic juncture for Loud Beverage Group, signifying a new chapter in corporate leadership and strategic vision. Effective October 26, 2023, the approval of a change of control provides a comprehensive span of voting control across the executive team. As of this pivotal date, Brandon Spikes assumed the roles of Chief Executive Officer and Chairman of the Company, bringing his transformative vision to guide the company's trajectory. Simultaneously, Chris Sellinger took on the role of Vice President of Operations, steering the operational facets of the organization towards unprecedented success. The aforementioned leadership transition underscores a fresh perspective and a dynamic approach to steering the company towards unprecedented success. Additionally, as of October 26, 2023, the entire previous management of Loud Beverage Group, Inc. has voluntarily resigned from all positions with the Company.
The new management is actively working towards restoring the company's Current Information status with the OTC Markets Group. As of December 31, 2023, all necessary disclosures have been completed. The final step in achieving Current Information status involves obtaining an attorney opinion letter, which is currently pending.
The company remains committed to adhering to all OTC Markets reporting standards to ensure full compliance. This commitment aims to instill confidence among the public stakeholders and demonstrates the company's dedication to transparency and regulatory compliance.
Loud Beverage Group anticipates initiating the uplisting process to the OTCQB tier in the third quarter of 2024. The management team will work closely with regulatory authorities and adhere to the necessary compliance requirements throughout the application process. Pending regulatory approvals, the company aims to complete the uplisting by 2025. Loud Beverage group will keep shareholders and stakeholders informed of any developments and milestones achieved during this transformative journey.
Brandon Spikes, CEO of Loud Beverage Group, Inc., expressed enthusiasm about the decision, stating, "This move is a pivotal step forward for Loud Beverage. Uplisting to the OTCQB tier aligns with our commitment to corporate governance and transparency. We believe that this strategic decision will not only benefit our existing shareholders but also attract new investors who recognize the potential and value of Loud Beverage Group's vision and growth trajectory."
Loud Beverage Group recently launched its shareholder focused corporate facing website. The Company will continue to add functionality and updates to its new website in its efforts to provide current and future shareholders the tools and information they need. The website covers all corporate facets such as company's mission, team highlights, latest news and press releases, along with pertinent information for current and future shareholders and investors.
For further information, please contact:
Investors Relations
ir@loudbeveragegroup.com
877-814-4188
About Loud Beverage Group, Inc.
Loud Beverage Group, Inc., a Delaware corporation, wholly owns subsidiary, Surge Distribution Company, LLC. Surge Distribution Company, LLC, takes pride in being the preferred supplier for a diverse array of appealing, innovative, and cost-effective products, dedicated to meeting the unique needs of its retail partners. Their commitment goes beyond providing goods; they strive to establish lasting partnerships built on trust, reliability, and shared success.
Please visit: https://loudbeveragegroup.com
Please visit: https://surgedist.com
Forward-Looking Statement:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
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SOURCE Loud Beverage Group, Inc.
