New York , Nov. 17, 2017 (GLOBE NEWSWIRE) --
Shark Tank Featured Company Becomes Wholly-Owned Subsidiary of Hispanica Int’l.
Hispanica International, Inc. (OTCQB: HISP) a brand accelerator company focused on exotic brands in the alternative beverage and snack industry, today announced that it has completed its acquisition of Victoria’s Kitchen™. Financial terms of the transaction were not disclosed.
Victoria’s Kitchen™ is an almond water specialty beverage company based in Los Angeles, California. The acquisition is expected to accelerate VK’s growth and expand national reach via Hispanica’s proprietary distribution system.
Plans for the acquisition were previously announced by Hispanica in October as we took preliminary steps for Victoria’s Kitchen™ to join Hispanica’s branded products portfolio. The acquisition is intended to offer a unique upscale specialty beverage as part of Hispanica’s family of proprietary brands.
“Finalizing the deal and adding Victoria’s Kitchen™ to our portfolio is something we are excited about,” stated Hispanica Chairman and CEO Fernando “Oswaldo” Leonzo. “The Victoria’s Kitchen™ brand already has some name recognition due to its appearance on Shark Tank and product placement on NBC shows. More importantly, the almond water, lemon ginger, and coconut almond water products are all-natural and aligned with the type of company we are looking to build our next generation brands around.”, Leonzo said. Plans are under way to enhance Victoria’s Kitchen™ brand’s product offerings with organic ingredients, new flavors, and expanded distribution into nationally recognized retailers.
Over the past several years, alternative beverages and niche categories have outperformed most traditional mass–market categories within the beverage industry. In particular, value–added water gained market share in 2016, while larger, more established, categories failed to grow.
According to the Beverage Marketing Corporation, value–added water outperformed all other segments with a 12.3% volume increase in 2016. As the market continues to trend away from soft drinks, Hispanica is focused on an all-natural exotic flavor acquisition growth strategy, based on geographic expansion and targeted product-line extensions. Victoria’s Kitchen co-packer arrangement has enabled a smooth transition, with no added infrastructure costs associated with the final agreement.
About Hispanica International, Inc.
Hispanic International, Inc. (HISP) is a public company founded in 2013. Formed as an ethnic food and beverage company, HISP has leveraged innovation to re-shift its focus into a brand accelerator beverage and snack company with the goal of expanding it all-natural exotic flavor its portfolio of companies that are all-natural and offering exotic flavors to the mainstream market. The HISP accelerator backs beverage/snack companies, which it can acquire, by building a proprietary distribution platform to enhance its own brands and position them for mass market entry.
Based in New York, HISP plans to continue investing in companies focused primarily in the beverage sector, while adding snacks to their portfolio over time. HISP will continue to focus on all-natural exotic flavors, as well as health and wellness-related products, consumer snacking, grocery and health trends. HISP will continue to accelerate beverage and snack companies at different stages, from start-ups to established brands.
HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at competitive prices. HISP is headquartered in New York and currently has distribution operations in New York City Tri-State Region, Washington DC Metro Area, as well as in Los Angeles and the Northern California Region.
For more information on Hispanica International, Inc. please visit http://www.hispanicadelights.com
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company’s financing being adequate for the Company to close this acquisition, being able to place its products in the retail stores, to launch its growth and expansion plans among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. No information in this press release should be construed in any way whatsoever as an indication of Hispanica’s future revenues, financial performance or stock price. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica International Delights of America, Inc.’s filings with the Securities and Exchange Commission at www.sec.gov.
Source:Hispanica International Delights of America, Inc.