Complements Existing Distribution Network
LOS ANGELES, CA / ACCESSWIRE / April 28, 2020 / Pacific Ventures Group, Inc. (OTC PINK:PACVD) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, today announced that its Seaport Meat Company ("SMC") division is expanding into the pet food industry.
The pet food market in the United States was worth approximately $24.6 billion in 2016. This figure was estimated to increase by over $5 billion to approximately $30.01 billion by 2022.
Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "Our network and clients have been seeking pet food products and we believe it's a good time to expand into the solid-growth category. Seaport Meat Company is adding the machinery needed to produce and package pet food products. Additionally, we are currently negotiating a contract with a leading pet food brand that would become an anchor to our new platform and potentially add up to $5 million in additional annual revenue."
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC PINK: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.)
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SOURCE: Pacific Ventures Group INC