LAS VEGAS, NV, Aug. 22, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --International Spirits and Beverage Group Inc. (OTCQB:ISBG), (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits market, is excited to announce the Company’s expansion into the CBD-infused Beverage market. The Company is currently in talks with two CBD extract suppliers and will release details as they become available.
Management believes that ISBG’s current operational infrastructure and protocols present a strong co-product opportunity for expansion into the booming CBD-infused beverage space. New team member Art Massolo has a strong understanding of the CBD-infused beverage marketplace, and will bring that experience to the table as the Company navigates initial establishment of production and branding operations.
“This is exactly why we brought Art on board,” commented ISBG CEO Terry Williams. “We set up our emerging products division to power new growth. The CBD space is in the grips of a massive boom as the rate of mainstream consumer adoption accelerates. And we believe we have the experience and tools to quickly establish ISBG as a market leader in the beverage arm of that space.”
According to BDS Analytics, cannabis-infused beverage sales grew to $35.6 million in 2017 across California, Colorado, Oregon, and Washington. In Colorado alone, beverage sales jumped over 11% on a year-over-year basis to close 2017, but comparable sales are already up 12% in the first quarter of 2018 alone. Management believes that type of acceleration is the hallmark of a particularly robust trend.
At the same time, according to Bloomberg, traditional soda sales just hit a 30-year low in 2018. In addition, the overall CBD space is projected to grow by 700% to $2.1 billion by the year 2020, according to the Hemp Business Journal.
Mr. Williams continued, “The consumer trends in place here are unmistakable. The landscape is shifting underfoot, and we are extremely well-positioned to capitalize on the opportunity in CBD-infused beverages. In addition, recent legislation has opened the door for strong branding in this emerging marketplace, and we are already in talks with several potential partners to make this happen on a fast-track pace.”
About ISBG: ISBG is a Nevada-based alcoholic beverage company specializing in the development, marketing and global sales of innovative wine and spirits brands. The Company's expertise lies in the strategic development and aggressive early growth of its brands and establishing these brands as viable and profitable. ISBG intends to build its own brands while seeking out individual acquisition candidates to continue to develop its pipeline of new brands into the ISBG portfolio. For more information visit: www.isbg.global
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