LOS ANGELES, CA / ACCESSWIRE / April 23, 2020 / Pacific Ventures Group, Inc. (OTCPINK:PACVD) (the "Company"), a food and beverage holding company specializing in the distribution of consumer food, beverage and alcohol-related products, is pleased to announce that its unaudited revenue for the first quarter ended March 31, 2020 was $6.7 million.
These first quarter 2020 results represent an increase of $5.4 million or 520%, as compared to the three months ended March 31, 2019, and now include the operations of Seaport Meat Company ("SMC").
Ms. Shannon Masjedi, Pacific Venture Group's Chief Executive Officer, commented, "We are very pleased with our results right out of the gate after closing our Seaport Meat Company acquisition in late 2019. Our team has done an excellent job integrating the businesses to achieve operating efficiencies and executing on revenue growth opportunities that include, but are not limited to increasing distribution points for each business, produce, dairy, meat and seafood."
About Pacific Ventures Group, Inc.
Pacific Ventures Group, Inc. (OTC PINK:PACVD) 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 web site 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
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