WASHINGTON, May 18, 2017 /PRNewswire/ Affinity Beverage Group, Inc., (hereinafter the "Company") a publicly traded company under the ticker symbol (OTC Pink: ABVG), announced today that it has finalized its acquisition of Undone Chocolate, LLC (hereinafter "Undone"). Undone Chocolate (www.undonechocolate.com), headquartered in Washington, DC, is the owner of the Undone Chocolate brand of premium 100% organic certified vegan chocolate bars, cacao tea and drinking chocolate. Undone, founded in 2014, was DC's first craft chocolate maker. The cacao and other ingredients used in the product is 100% Organic, Vegan, Gluten Free, Soy Free and directly sourced and handcrafted from scratch with no added fats or emulsifiers. Undone Chocolate is distributed to local and national retailers including Whole Foods Market, Mom's Organic Market, Yes Market as well as numerous outlets including hotels, restaurants and specialty stores. Undone has recently added several new customers, including national specialty retailers Williams-Sonoma and Loli & Pop, and a new distribution partner in the United Kingdom. In anticipation of the acquisition, Undone has spent the past several months developing new products including a mini-bar concept that is perfect for mainstream grocery, drug stores and the hospitality channel which is an area of emphasis for Affinity Beverage Group and its other wholly Owned subsidiary, Village Tea Company.
Undone Founder, Adam Kavalier will remain with the Company as a managing member and will continue to work with the Company through an agreed upon transition period and into the foreseeable future as deemed necessary. "We have worked extremely hard over the past few years to create our concept, develop a product and establish a regional brand that could potentially grow into a household name in the rapidly expanding organic chocolate market. Although we have achieved some modest success in a very short period of time, we feel that Affinity Beverage Group has the right platform and resources to take our vision to the next level," stated Undone founder, Adam Kavalier.
Affinity Beverage and Undone Chocolate have a shared vision for the current and future product line; including integration into existing channels of distribution (Sodexo and others), cross promotional opportunities with other portfolio brands (Village Tea Company/Cacao Tea and Hot Chocolate), new product development (CBD/ Hemp infused Chocolate Bars) and private label (retailers and hospitality). "Undone has done a tremendous job of developing a fantastic socially responsible brand that we feel fits squarely into our health and wellness platform. This partnership gives us an opportunity to add a synergistic product line that can be easily integrated into our existing platform while adding value not only to our bottom line but potentially to all of our existing portfolio products," states Janon Costley, CEO of Affinity.
According to the latest research, the global chocolate market is growing by 5% annually with increasing popularity of dark artisanal chocolate. The Artisanal chocolate market is outpacing mainstream chocolate, growing at 8.4%, with the overall organic market growing by 20%. The US craft chocolate market alone is over a $100M annually.
About Affinity Beverage:
Affinity Beverage Group, Inc (www.affinitybeverage.com) is a holding company that focuses on branded consumer product acquisition opportunities in the $3.4 trillion health and wellness sector. Affinity primarily targets lifestyle brands, companies, and/or exclusive product distribution rights focusing on traditional and non-traditional, healthy beverage options. Affinity will also seek opportunities involving uniquely positioned young brands specializing in all natural/organic foods, bio-food, supplements and personal care products for strategic partnerships, distribution agreements and potential acquisition.
About Undone Chocolate:
Undone Chocolate (www.undonechocolate.com)is a bean to bar craft chocolate maker based in Washington DC. We handcraft small batch chocolate from organic and direct trade cacao sourced from small producers in Central and South America. We manufacture chocolate bars, drinking chocolate and cocoa shell tea, which is distributed to grocery, specialty stores, hotels and restaurants across the country under the Undone Chocolate brand.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above.
Source: Affinity Beverage Group, Inc. (ABVG)
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SOURCE Affinity Beverage Group, Inc. (ABVG)