CORNELIUS, N.C., April 13, 2021 /PRNewswire/ -- Good Hemp, Inc. (the "Company") (OTC Markets: GHMP) announces it has closed its acquisition of Diamond Creek Group as a wholly-owned subsidiary of Good Hemp. This announcement underscores the Company's plan towards expanding its consumer reach through strategic brand acquisition.
Forecasts for the Functional Water market anticipate record growth, as it is expected to reach $18.24B by 2025, with much of the increase coming from North American and Asian territories. Additionally, the high alkaline water market has proven growth year over year, reporting 12% growth every year since 2013. Analysts believe this market alone could be worth $4.3 billion by 2023, with 96% of the sales coming from Japan and North America.
As a key driver in market demand, the North American demand for functional and alkaline water has increased more than 44% since 2013. Although bottlers, such as Essentia and Core, have led the charge, other players, such as Coke's Smart Water Alkaline, which launched in 2019, have further developed the sector. With the acquisition of Diamond Creek Water, Good Hemp is positioning itself to capitalize on this extraordinary market growth.
"I am very excited about the closing of the acquisition with Good Hemp, Inc. I have spent over a decade building this business and connecting with customers looking for a quality hydration solution. Through this acquisition, Good Hemp is positioned to take Diamond Creek to the next level, and I am thrilled to remain part of the team," Ken Morgan, Founder of Diamond Creek, stated.
Good Hemp is wasting no time with the expansion. Good Hemp and Diamond Creek have already leveraged Good Hemp's marketing partnership with Spire Sports, including sponsorship on the Spire Motorsports No. 77 entry in the NASCAR Cup Series. Good Hemp has also added Diamond Creek products to the Amazon network, which has seen substantial growth over the past six months.
In addition, Good Hemp stands to benefit from several other factors and strategic decisions stemming from the Diamond Creek acquisition. Through Diamond Creek's distribution network, Food Lion announced an expansion including the addition of sixty-two Bi Lo and Harvey's Supermarkets stores. Meanwhile, Harris Teeter is running a special promotion for Spring which provides additional shelf space and end caps for Diamond Creek's product line.
The increased retail visibility comes on the heels of Diamond Creek Water's Amazon Store launch, a move to capitalize on the alkaline water category which does millions of dollars in online sales annually. Diamond Creek also plans to leverage Good Hemp's broker and distribution network as opposed to remaining focused only on DSD.
"We are thrilled to have Ken Morgan as a part of our growing team. Ken and Diamond Creek add a complimenting facet to our overall acquisition game plan and building shareholder value. We vetted several strategic acquisitions before closing on Diamond Creek and continue to look at other opportunities to expand sales, streamline operations, and increase our earnings per share," Bill Alessi, CEO of Good Hemp, stated. Alessi continued, "We believe that with current Diamond Creek sales alone, we can increase our FY 2021 revenue by greater than 500%. Pair that with a fine-tuned marketing team under our hood, and we are off to the races - pun intended."
About Good Hemp Products - Good Hemp, Inc.'s beverage lineup consists of Good Hemp Fizz and Canna Hemp, functional carbonated beverages infused with natural ingredients and made with hemp seed oil, which is categorized as "GRAS" (under sections 201(s) and 409 of the Federal Food, Drug, and Cosmetic Act, and therefore not subject to FDA review and approval). Good Hemp 2oh! is a line of naturally flavored waters infused with 10mg of THC-free hemp extract and prebiotic fiber. These products are available online from Amazon and goodhempinc.com
Good Hemp Wellness will be launching with a line of cannabidiol gel caps consisting of a fast-acting, proprietary, self-emulsifying formulation aimed at providing consumers with American-made CBD products they can trust.
Diamond Creek manufactures ionized 9.5pH high alkaline natural spring water, sourced from the highest quality, award-winning springs in Ohio, Pennsylvania, and Tennessee. Available in three sizes: 1 gallon, 1 liter and 500 mL bottles. Visit www.diamondcreekwater.com for more information.
FDA Disclaimer - The CBD softgel and beverage products and the statements made about them in this press release have not been evaluated by the United States Food and Drug Administration (FDA). These products are not intended to diagnose, treat, cure, or prevent any disease.
Safe Harbor Statement - This press release may contain forward-looking information that involve a number of risks and uncertainties made pursuant to Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things, the company's business plans and the company's growth strategy and operating strategy. Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of numerous and varied factors. Good Hemp, Inc. does not undertake to update any forward-looking statements except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the company or any person acting on behalf of the company are expressly qualified in their entirety by the cautionary statements referenced above.