Pacific Ventures Group Inc (PK:PACV)
Business Focus: Food Processing
| Sector: Consumer Non-Cyclicals | Industry: Food Processing |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 117 West 9Th Street Suite 316 LOS ANGELES CA 90015 |
| Tel: | N/A |
| Website: | https://pacvgroup.com |
| IR: | See website |
| Key People | ||
| Marc Shenkman Chairman of the Board | Shannon Masjedi President, Chief Executive Officer, Director | Ira Unterman Chief Financial Officer |
| Business Overview |
| Pacific Ventures Group, Inc. is a consumer-centric distribution company focused on food, beverage, and alcohol-related products. Through its portfolio of subsidiaries, the Company delivers specialty groceries, proteins and produce, and products to consumers through wholesale, retail, and direct-to-consumer channels. Its subsidiaries include San Diego Farmers Outlet, Seaport Meat Company, and Snobar Holdings, Inc. (Snobar). San Diego Farmers Outlet is a supplier of fresh fruits and vegetables and specialty groceries for retail customers and wholesale restaurants. Seaport Meat Company manufactures custom processed beef, pork, chicken, lamb, veal and seafood. Its meats are offered in restaurants and butcher shops. SnoBar offers SnoBar Frozen Cocktails, an alcohol infused ice-pops, ice cream and sorbet. SnoBar offers three types of ice-pops namely Margarita, Mojito and Cosmopolitan. SnoBar provides ice cream in a range of flavors, such as grasshopper, pink squirrel, and brandy alexander. |
| Financial Overview |
| For the nine months ended 30 September 2023, Pacific Ventures Group Inc revenues decreased 27% to $22.6M. Net loss applicable to common stockholders decreased 57% to $2.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Interest Expense decrease of 33% to $2.2M (expense), Other Income Other increase from $236K to $1.3M (income). |
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