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Upper Street Marketing, Inc. Takes New Direction in Beverage Industry, Partners With Former Mike's Hard Lemonade Team
Upper Street Marketing, Inc. Takes New Direction in Beverage Industry, Partners With Former Mike's Hard Lemonade Team.
About this update from Upper Street Marketing, Inc.
[{"type":"text","content":"\nUpper Street Marketing, Inc. Takes New Direction in Beverage Industry, Partners With Former Mike's Hard Lemonade Team\n\nUpper Street Marketing, Inc. Takes New Direction in Beverage Industry, Partners With Former Mike's Hard Lemonade Team\n\n\nProven Leader in the Flavored Malt Beverage Industry, Feza Sanigok, and Upper Street Marketing Partner to Launch New Products\n\nLOS ANGELES, CA--(Marketwired - October 11, 2016) - Upper Street Marketing, Inc. (OTC PINK: UPPR) today announced former Chief Financial Officer of Mike's Hard Lemonade U.S., Feza Sanigok, will serve as CEO and interim chief financial officer of Upper Street and will lead a new venture with the acquisition of Ennoble Progressive Beverage Distribution Inc. The partnership marks Upper Street Marketing's entrance into the flavored malt beverage industry to build a national distribution network and launch multiple progressive adult beverages over the next five years through acquisitions and organic in-house developed products and brands. Former Mike's Hard Lemonade executive Chris Pfeifer will serve as chief operating officer and chief marketing officer.Upper Street Marketing Director Gordon McDougall said focusing on underdeveloped and high growth potential market segments while expanding locally successful brands into a national scale proposition offers first-mover advantage into key flavored malt beverages segments, such as progressive adult beverages, which promises explosive growth potential in the U.S. for the next 10 to 20 years. \"By itself, any particular brand with the right focus and sufficient investment could extrapolate to a potential $100-million business. We also plan to develop an invaluable national distribution network -- and only a handful of those exist right now,\" McDougall said.Sanigok and Pfeifer were part of the team that guided Mike's Hard Lemonade to more than $500 million in revenue at retail. The team grew the company's top-line revenue from $138 million to more than $300 million during a historic down market in the beer industry and increased the operating contribution of the brand portfolio by five times during their tenure, McDougall said.Feza, he said, was instrumental in quadrupling the company's operating income in four years, and Pfeifer created and launched three of its most successful products: Palm Bay ($50 million per year i...