Synergistic Acquisition to Take Seaport Meat Company and San Diego Farmers Outlet Into the Midwest
LOS ANGELES, CA / ACCESSWIRE / March 16, 2021 / Pacific Ventures Group, Inc. (OTC PINK:PACV) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce its signing of a Letter of Intent ("LOI") to acquire a food and beverage distributor located in the Midwest.
Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "We are excited to sign this LOI and work towards a definitive agreement and closing over the next couple of months. In addition to their existing business, we believe there are great synergies to expand Seaport Meat Company's and San Diego Farmers Outlet's reach toward the middle of the country given their customers and distribution capabilities. This would be a transformational acquisition, if consummated, that will catapult us near $80 million annual revenue and enable us to be positioned to start the process of an up list to a major national U.S. exchange."
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC PINK:PACV) is focused on expansion within the consumer products, food, beverage and alcohol-related industries. For more information on PACV, please visit www.pacvgroup.com. (You need to be at least 21 years of age (legal age to consume alcohol) to visit the section of the website dedicated to SnöBar.)
Safe Harbor Statement
Forward-Looking Statement: This press release may contain certain 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include but are not limited to, the inability of the company to obtain financing sufficient to maintain its operations and execute its acquisition strategy; the inherent uncertainties associated with smaller reporting companies; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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SOURCE: Pacific Ventures Group, Inc.