Highest Quarterly Revenue in Company History
LOS ANGELES, CA / ACCESSWIRE / August 5, 2020 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, announced today that the Company expects to report revenues of $8.5 million, which represents 650% growth for the second quarter ended June 30, 2020.
Pacific Venture Group's second quarter ended June 30, 2020 earnings results are expected to be released in mid-August.
Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "Since our acquisition of Seaport Meat Company in December 2019 and then the subsequent outbreak of the COVID-19 pandemic here in the U.S., our business has witnessed an increase in demand across a variety of areas and customers, as demonstrated by the acceleration in revenues. This momentum led to a robust second quarter of 2020 led by our Seaport Meat Company teams' ability in securing meat purchases. We are seeing solid revenue growth from both existing and new customers, as we have diversified our customer base and added distribution points. We look forward to reporting our official second quarter 2020 results for the three months ended June 30, 2020 in mid-August."
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC PINK: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