Primco Management Inc . (OTCQB: PMCM) entered into a joint venture with British Columbia-based CanMed Ventures on Feb. 24 to build and operate a 30,000-square-foot cultivation facility for the production of medical marijuana.
The Century, Calif.-based multi-media and real estate development company said it expects to be fully licensed within 6 months and generating first-year revenues exceeding $20 million.
This is just Primco Management’s latest move to develop various properties in order to lease them to companies growing or selling legal marijuana.
Also Acquiring Property in Los Angeles
On Feb. 12 the Century, Calif.-based company said it planned to initially acquire property in the greater Los Angeles area with subsequent plans to extend its operations to Western states where medical marijuana is permitted by state law. The leased facilities will meet all zoning and licensing requirements for the ongoing, legal dispensing of medical cannabis. Primco will not engage in the cultivation or sale of medical cannabis or any of its byproducts.
“Today's political environment regarding the legalized production of medical cannabis is the solution not only for patients in need of the medicinal benefits of marijuana but also in helping to keep the illegal dealing of marijuana off the streets. The economic dynamics are perfectly aligned to make this business opportunity a great success for us,” stated Primco’s CEO David Michery, in a written statement.
PMCM’s share value closed at 0.0014 cents on Feb 28, down 0.0003 cents, from its close of 0.0017 cents the previous day.
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Heinekin Share Price Steady
Meanwhile, on Feb 28, Heineken N.V.’s (OTCQX: HEINY) share price closed at $33.76, up 47 cents from its close of $33.29 the previous day.
The Netherlands-based brewer’s stock price has been slowly rising after it reported the following full-year results for 2013 on Feb. 11:
Full-Year Results for 2013
- Group revenue grew 1.3%; 0.1% higher organically, with group revenue per hl up 2.7%
- Improved second half performance with group revenue and group operating profit (beia), on an organic basis, up 0.8% and 1.5%, respectively
- Heineken(R) premium volume declined 1.8%, including an impact from destocking in France and the U.S; continued clear leadership in the international premium segment
- Group operating profit (beia) increased 2.8% and grew 0.6% organically; group operating margin expansion of 20 basis points
- Strong performance of APB[1] with pro-forma organic operating profit (beia) up 14%
- EUR300 million of pre-tax TCM2 cost savings delivered in 2013
- Net profit (beia) of EUR1,585 million, 2% lower on an organic basis; reported net profit of EUR1,364 million; 2012 reported net profit included a EUR1,486 million revaluation gain related to the acquisition of APB
- Diluted EPS (beia) of EUR2.75 (2012:EUR2.89) includes a 10 cent negative impact from revised IAS19 and foreign currency translational movements
- Proposed total 2013 dividend of EUR0.89 per share, unchanged versus 2012
2013 An Interesting Year for Heineken
It was only five months after the CEO of Heineken admitted the company couldn’t compete with craft beers in the United States, the company’s stock started trading on the OTCQX market on Jan. 27, 2014.
During a conference call to analysts in 2013, Heineken CEO Jean-François Van Boxmeer stated that the company’s flagship brand could not directly compete with a craft beer sector that has monopolized U.S. beer growth over the past decade, according to Beverage Daily.com.
Van Boxmeer went on to say that instead of trying to compete head-to-head with the phenomenon of craft beers in the United States, the company would instead grow its market share with its Strongbow cider brand. Heineken’s Strongbow Gold is an alcoholic apple cider that was launched in Italy in 2011 and has enjoyed some success
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Applies Its Mexican-Beer Strategy
In a question-and-answer session with analysts, Van Boxmeer explained how the brewer would grow its cider sales in the United States by using the same marketing strategy it used to grow the sale of its Mexican beers to double digit rates in the U.S. over the last eight years. That strategy consists of targeting only the “upper side” of the market because Heineken doesn’t have the scale to compete in the mainstream, he added.
Cider Sales Up
Focusing on growing hard-cider sales in the United States appears to be a forward-thinking strategy.
Sales of the top-10 cider brands in the United States grew by 62.6% to 9.58 million, 2.25-gallon case depletions in 2012, according to Impact Databank. The fact is that most major brands enjoyed double-digit increases. Strongbow sales saw a 9.1% increase to 867,000 cases in 2012.
Making a strong footprint in the burgeoning U.S. cider market is not a sudden move by Heineken. The brewer has been carefully plotting its strategy since 2008 when it acquired Scottish & Newcastle, giving Heineken ownership of Strongbow , which has already captured 24% of the global share of cider sales.
Hard-Cider Niche Highly Competitive
However, Heineken is not the only brewer planning to exploit the growing U.S. cider market, Anheuser Busch Inbev SA (NYSE: BUD) also has also been taking steps to ensure its footprint. According to a memo published by Just-Drinks, Anheuser Busch is planning to launch a hard cider, called Johnny Appleseed on or about Apr. 7, 2014. The product will target 21-to 27-year-olds. In addition, MillerCoors has confirmed it will roll out a hard cider product in the United States this year, according to Just-Drinks. They, too, want to adapt to the cultural curve.
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Liquid Relaxation Drinks
Also in the beverage sector, Bebida Beverage Co. (OTCPINK: BBDA) stock volume skyrocketed Feb. 28, with 284,591,296 shares changing hand, 3.5 times its three-month average volume of 81,189,081 shares.
The uptick in volume could be tied to a Feb. 27 Bebida Beverage’s announcement that the company has entered into a partnership with Greater Media's, The Bob and Sheri show.
The Bob and Sheri show is a syndicated United States radio program hosted by Bob Lacey and Sheri Lynch at radio station 107.9 The Link in Charlotte, North Carolina. The show runs live on over 40 nationwide affiliates, as well as worldwide in 177 countries and 150 ships at sea through the American Forces Network.
Targeting A Relaxation Drink Niche
The Mooresville, N.C.-based company is having some success in marketing what it characterizes as a “liquid relaxation drinks,” which is the opposite of energy drinks, which it also sells.
On Feb. 3, BBDA’s share volume soared, with 227,793,830 shares changing hands, nearly eight times its three-month average of 29,515,219.
Expanding Distribution
The volume was triggered in part by the Bebida’s Jan. 28 announcement that it had entered into an exclusive distribution agreement with Double CC Distributors LLC. Through the partnership, Double CC Distributors LLC will handle 16 counties in the panhandle of Florida, offering both local and national retailers the company's signature product, KOMA Unwind relaxation drink.
But the soaring stock volume could continue to be sustained by Bebida’s penchant for being ahead of the cultural curve with its beverage offerings.
On Feb. 28, shares of BBDA closed 0.0028 cents, up 0.0005 cents from 0.0023, the previous day’s close.
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Source: Accesswire IA (March 3, 2014 - 11:41 AM EST)
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