Reed’s, Inc. announced this morning that it has established a new line of business that will utilize the companyâ€™s existing bottling operation to discover opportunities that are non-competitive with current product lines. The company believes the new business venture will substantially increase revenues and improve gross profit.
“We have increased efficiencies and created additional available line time within our brewing and bottling operation,” stated Mr. Chris Reed, Founder and CEO of Reed’s, Inc. “In essence, we’ve tooled up our plant to a point where we have created about three to four thousand additional hours a year of line time to dedicate to the private label business. This could double the current size of our company.”
Mr. Reed continued, “Our initial outreach to the larger supermarket chains in the US has been met with significant interest. Our plant has unique packaging capabilities that, up until now, were only found outside North America. This gives us a competitive edge when bidding these specialty beverage products. We are not offering our proprietary formulas for private label but, are instead, developing non-competing flavors.”
“Upon full implementation, this new business should significantly increase our revenues, and gross profit,” concluded Mr. Reed. “We are committed to exploring every area of potential growth while pursuing the least dilution for shareholders. The additional revenues and cash flow from this initiative could self-fund our growth and brand development. We feel that this new business should allow us to drive expanded marketing and awareness of our brands.”