LOS ANGELES, CA / ACCESSWIRE / January 14, 2020 / Pacific Ventures Group, Inc. (OTC PINK: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.
SOURCE: Pacific Ventures Group, Inc.
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