CORNELIUS, N.C., March 4, 2021 /PRNewswire/ -- Good Hemp, Inc. (the "Company") (OTC PINK:GHMP), an innovative hemp beverage producer, after recently entering into a letter of intent to acquire Diamond Creek as a wholly-owned subsidiary, announced today that the alkaline water brand is now available for purchase on the Good Hemp store through the Amazon marketplace.
New information from the Beverage Marketing Corporation, as reported by The Shelby Report, shows the market trends for bottled water are skyrocketing. According to their statistics, 14.4 billion gallons of bottled water were sold in 2019, up 3.6 percent from the year before. Meanwhile, a new report from Facts and Factors indicates the bottled water market to grow at a CAGR of 8% and reach $400 billion by 2026.
With Good Hemp now selling Diamond Creek (here), the premium water brand is hoping to increase its share of this market. Up to now, Diamond Creek water had a direct sales distribution network with more than 2,000 retail locations nationwide. The opening of a new sales channel on Amazon reflects a transition for the company to adjust to the growing demand for e-commerce and direct-to-consumer retail options in the wake of a global pandemic.
Good Hemp beverages already have an established presence on Amazon. So, in a win-win transaction, Good Hemp is expanding the Diamond Creek water brand to the eCommerce platform. In turn, Diamond Creek hopes to help Good Hemp's flagship beverages, CannaHemp, Hemp 2OH!, and CannaFizz, take advantage of its established distribution network.
Just as bottled waters have seen an increase in consumer demand, functional water brands are also escalated quickly. A recent report from Fortune Business Insights indicates that the functional water market could be worth $18.24 billion by 2025 with a CAGR of 7.4%.
The acquisition of Diamond Creek by Good Hemp aims to align the Company to take advantage of the bottled water market, as well as the functional water market. Chris Chumas from Good Hemp commented on the forward progress in the acquisition and the expansion of both brands, "Good Hemp is proud to have grown our functional beverage sales on Amazon over the past year, which has allowed us another way to reach consumers across the United States and beyond. The addition of Diamond Creek's product will enable us to sell high alkaline water nationwide immediately, complimenting our existing retail footprint."
Listing the product for sale in the first half of February is just one step in the overall plan to bring the two companies together and expand both product lines. Leadership at Good Hemp also plans to utilize Diamond Creek's established supplier and bottling relationships for the production of their beverage line.
Chumas added, "After working through the Covid-related Amazon inventory situation, we are pleased to have Diamond Creek High Alkaline Water available for purchase, and we are pleased that the product will qualify for Amazon Prime designation for millions of loyal customers."
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, which is currently under a letter of intent to be acquired by Good Hemp, 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, Diamond Creek high alkaline water aids in balancing the body's pH and provides superior hydration due to our state-of-the-art ionization process. Visit diamondcreekwater.com for more information.
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.
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