Innovation Beverage Group Limited (NASDAQ: IBG) has garnered significant attention following its recent announcement to expand operations into the U.S. market. As of the pre-market session, IBG shares surged by 44.62%, reaching $2.69.
This boost in stock value is linked to the company’s strategic distribution deal in the United States, facilitated by Buettner Global Services, a specialist in sourcing and supply chain management.
Nationwide Availability of Australian Bitters
Australian Bitters, the flagship product of IBG, is now offered nationwide by Sysco, a well-known worldwide leader in foodservice distribution. Sysco serves around 730,000 client locations, including restaurants, healthcare facilities, and hospitality events, through its vast network of 340 distribution centers.
Through this relationship, Australian Bitters will be better positioned in a competitive market and have greater exposure and reach. Renowned for its handcrafted creations, Australian Bitters are made in small quantities using only the best natural botanical herbs and spices.
The product won a Gold Medal at the Los Angeles Spirits Awards, bringing it attention on a global scale. Its availability in major U.S. cities marks a pivotal step for IBG in capturing a portion of the highly valuable U.S. bitters market.
U.S. – A Key Market for Bitters
The U.S. bitters market accounts for 40% of global volume, making it the most lucrative market for this product category. By comparison, Australia ranks second, holding 13% of the global market.
This significant market opportunity in the U.S. aligns with IBG’s strategy to expand the availability of its award-winning product, with the goal of making Australian Bitters more accessible to consumers, bars, and restaurants across the country.
Leadership Strengthening with Industry Expertise
In a further move to solidify its position, Innovation Beverage has recently appointed Genevieve Jodhan as Chief Sales Officer. With more than ten years of experience at Angostura Holdings Limited, Jodhan is an accomplished executive with a plethora of industry knowledge and a track record of success in sales leadership and brand development.
Her direction should help IBG maintain its position as a disruptive force in the beverage sector and increase its market share.
