Kona Gold Beverage, Inc. (OTCPK:KGKG) acquired Surge Distribution Company, LLC from Loud Beverage Group Inc. (OTCPK:LBEV) for $1.5 million on April 16, 2024. Under the terms of the agreement, Kona Gold Beverage will purchase Surge Distribution for $1.5 million in preferred stock from Loud Beverage Group. Additionally, shareholders of Loud Beverage Group will benefit from a generous 1:1 dividend of Kona Gold Beverage's common stock. Surge Distribution seamlessly transitions into the fold of Kona Gold Beverages, Inc., operating as a wholly owned subsidiary.

Kona Gold Beverage, Inc. (OTCPK:KGKG) completed the acquisition of Surge Distribution Company, LLC from Loud Beverage Group Inc. (OTCPK:LBEV) on April 16, 2024.