Business
Elev8 Brands Inc. Introduces New CBD Whole Bean Coffee And Single Serve Hemp Coffee
Elev8 Brands Inc. Introduces New CBD Whole Bean Coffee And Single Serve Hemp Coffee.
About this update from Branded Legacy Inc.
[{"type":"text","content":"ORLANDO, Fla., Sept. 17, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Elev8 Brands, Inc. (OTCQB: VATE), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages along with an array of CBD topicals and tinctures, announces a new hemp infused single serve coffee as well as advancement into CBD whole bean coffee.Elev8 Hemp, LLC is eager to expand its coffee presence into the single serve market. The Company has received many requests over the past year and is very pleased to be rolling out these new products. The roll out will being in October with its House Blend and Pumpkin Spice hemp coffees. The remaining flavors will be introduced in the middle of the fourth quarter.According to Statista, recent figures show single-serving coffee brewing machines such as Keurig were the second most popular brewing system after the standard drip coffee makers. These figures report 26 percent of American coffee drinkers using single serve machines in 2018.Ryan Medico, CEO of Elev8 Brands, Inc., stated, “This was always our plan to expand into the single serve market. As exciting as this is, we are also very pleased to be creating a CBD infused whole bean coffee. We plan to enter as many areas with coffee and tea as possible and this was an integral piece that we were missing. We plan to have this product available by November.”Blessed Bean Coffee, LLC has seen substantial growth in 2019. By customer demand, the Company has entered the single serve private label market by purchasing its own automated single serve cup machine capable of producing up to 1200 cups per hour.Robie Leavitt, President of Blessed Bean Coffee, LLC, stated, “We are anticipating another spike in revenues with this new single serve machine as we did when we launched our private label drop shipping program back in July. We have since obtained several new private label customers and secured a large two-year contract. The plan in the fourth quarter is to purchase a larger roaster to keep up with this growth leading into 2020.”Elev8 Brands has seen growth this year in both Elev8 Hemp as well as Blessed Bean Coffee. Elev8 Hemp’s revenues year over year is currently over 85% growth rate. The introduction of its CBD whole bean coffee, hemp infused single serve coffees and the expansion of the ready to drink CBD infused beverage...