Sun Kissed Industries, Inc. Competes In Fast-Growing CBD-Infused Drinks Market With Newly-Acquired Hakuna Subsidiary
The growing CBD-infused drinks market will be $1.4 billion by 2023 — a jump of some fifteen times from its 2018 sales of $89 million. As one of the fastest-growing segments of the CBD industry, according to research firm Zenith Global, Sun Kissed Industries, Inc. (OTC: SKDI) achieved major results when it announced this week its investment in new equipment and product lines at its Hakuna subsidiary’s expanded Clean Room. After closing on the acquisition of Hakuna in February, Sun Kissed Industries, Inc. (OTC: SKDI) moved quickly to help grow that company in a hot CBD classification.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as Sun Kissed Industries, Inc. (OTC: SKDI), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF) and OrganiGram Holdings Inc. (NASDAQ: OGI).
Sun Kissed Industries, Inc. (OTC: SKDI) Competes In Fast-Growing CBD-Infused Drinks Market With Newly-Acquired Hakuna Subsidiary
Sun Kissed Industries, Inc. (OTC: SKDI) increased its CBD product output by 300%-500% in Hakuna and its online sales grew 30% during the COVID-19 lockdowns. Clean Room cost of goods sold are expected to drop some 30% on a per unit basis, it said. New equipment included: Nespresso Capsule, Bagged Coffee filling machine, newly installed industrial mixer and a new product in single serve instant coffee pouches.The investment paid off with greater online demand and the drop in cost of goods on a per unit basis. Overall, a 300-500% jump in output by the expanded Clean Room results in the fast-growing CBD-infused drinks market.
Hakuna’s Decreased Order-To-Shipment Time Frames
Ilan Freeman, Hakuna CEO, said, “The results of our hardworking team have resulted in significantly increased output across all our product lines and decreased order-to-shipment time frames. In addition, we have seen demand increase over the past couple of months ahead of our expanded marketing efforts.” Lower cost of goods sold by 30% on a per unit basis and a shortened time frame for filling orders, plus the increased demand, adds up to a more efficient operation and increased sales. Sun Kissed Industries, Inc. (OTC: SKDI) Competes In Fast-Growing CBD-Infused Drinks Market With Newly-Acquired Hakuna Subsidiary.
Sun Kissed Industries, Inc.’s (OTC: SKDI) Investment In Hakuna Subsidiary’s Clean Room Increasing CBD Product Output, Seen Reducing Costs
Sun Kissed Industries, Inc.’s (OTC: SKDI) acquisition of 100% of the stock of Products Group Inc. DBA/Hakuna Supply, a well established retail CBD company, has paid immediate results growth. By making Clean Room investments in new equipment, SKDI has seen quick returns in its Hakuna’s Clean Room operation. Nespresso Capsule production has jumped five-fold from 2,000 to 10,000 a day. It has grown its Bagged Coffee filling production by 500% daily, driven by a new Bagged Coffee filling machine. Single serve instant coffee pouches is a new product line. And it has a newly installed industrial mixer.
Results from the Clean Room expansion in the subsidiary of Sun Kissed Industries, Inc. (OTC: SKDI), Hakuna Supply, is that the company is now projecting increased revenue across all online product lines on a month-by-month and year-over-year basis. The newly expanded Clean Room of Hakuna went into full operation in early April with a new capacity to produce single serve instant coffee pouches. Sun Kissed Industries, Inc. (OTC: SKDI) Competes In Fast-Growing CBD-Infused Drinks Market With Newly-Acquired Hakuna Subsidiary.
Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary Selling In A CBD-Infused Drinks Market, Forecast To Reach $1.4 billion By 2023, According to Zenith Global
Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary competes in a red-hot classification within the CBD industry. The CBD-infused drinks market is growing from $89 million in 2018 to a projected $1.4 billion in 2023, a double-digit CAGR forecast by research firm Zenith Global. Hapuna already has a significant distribution footprint including more than 110 established retail distribution partners across greater than 20 states.
Sun Kissed Industries, Inc. (OTC: SKDI) Closed On Hakuna Acquisition In February 2020
Sun Kissed Industries, Inc. (OTC: SKDI) acquired the issued and outstanding shares of Hakuna in a definitive stock purchase agreement in February 2020. It sells products including premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies and CBD Flower product markets. The firm is currently nominated for “Best Hemp-Derived CBD Product” by the California Cannabis Awards and won the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017. It just won ‘Runner Up” at the Los Angeles Coffee & Donut Festival People’s Choice Coffee Awards for 2019.
Sun Kissed Industries, Inc. (OTC: SKDI) is an emerging leader in the CBD-based products market. It is pursuing technology acquisitions through an aggressive M&A strategy. It seeks to become a dominant player in a well-defined, high-growth niche within the CBD sector.
