Good Hemp, Inc. (OTC Markets: GHMP), maker of Good Hemp Fizz and CannaHemp beverages, announces it has expanded its sales reach via beer, spirits, wine and non-alcoholic beverage distributor Premium Brands of Northwest Arkansas. Premium Brands is a family owned business established in 1984. They currently have distribution agreements with MillerCoors, Corona, Yuengling, Pabst Brewing, Boston Beer, Mike’s, Seagram’s, Guinness, Heineken USA, as well as other widely recognized brands. In the terms of the agreement, Premium Brands will distribute Good Hemp Fizz and CannaHemp throughout 11 counties in northwest Arkansas servicing approximately 900 C-stores, grocers, and liquor stores.
“Hemp Infused beverages is a growing category, and we are excited to add a solid brand like Good Hemp Fizz and CannaHemp to our non-alcoholic portfolio,” said Heath Sutherlin, GM at Premium Brands. Sutherlin continued, “We look forward to working with the Good Hemp reps for a strong Labor Day rollout and building a long-term successful partnership in the territory.”
The US functional beverage market is expected to reach $46 billion by 2023, up from $39 Billion in 2018. Functional carbonates, energy drinks and functional waters are expected to make up nearly 15% category average growth rate (CAGR). The hemp infused beverage market is expected to reach $2.8B by 2025 with a CAGR of 18%.
“We are excited to add Premium Brands to our distribution network,” said Rise’ Meguiar, VP Sales and Innovation at Good Hemp. “They are a well-established distributor in NW AR, and by adding them to our network, our products will now be widely available across the northern part of the state.”