Good Hemp, Inc. has announced that the alkaline water brand, from its latest acquisition target Diamond Creek, is now available for purchase on the Good Hemp store through the Amazon marketplace. Diamond Creek is a major sponsor of NASCAR Team #77.
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.
Data from 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, 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.”
Original article from cannyxnews.com