GRASS VALLEY, CA , May 03, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire –Today BrewBilt Manufacturing Inc. (the "Company") (OTCPINK: BBRW) announced that the Company is negotiating with various candidates to spearhead its sales division starting in the second quarter of 2022.
BrewBilt Manufacturing is interviewing experienced candidates to oversee sales. The Company has experienced a spike in customer requests for brewery systems in the first quarter of 2022 and has quoted over $14M for new systems. There are verbal confirmations for over $4M in quotes that could have an impact for the second quarter of 2022.
CEO Jef Lewis stated, “Post-Covid quotes have jumped 300%. We definitely need experienced sales staff to follow-up and turn the quotes into revenue. We have verbal commitments from eight customers and will be expecting deposits to build their brewhouse, which would project approximately $4M in revenue. We have currently shipped $2M in systems during Q1 2022 to New York and California, and we have issued $14M in quotes in the past 90 days. According to current industry trends, craft beer is more popular than it ever has been. In fact, there are approximately three times as many breweries opening to replace those that have closed. Twenty to thirty additional breweries are expected to open this year in just Massachusetts alone. States with the most potential are California, Texas, Florida, and New York.”
Lewis further stated, “Our marketing and advertising program has resulted in national awareness of our products and name brand recognition. We have customers on the West Coast, East Coast, Midwest, Southwest, and Northwest. Our partnership in Europe will expand throughout Europe later this year as we are finalizing the manufacturing of their brewhouse in Finland. Brand building is a huge part of the game now. There is a fundamental shift happening in the beer industry with the phenomenal rise of the ‘Beyond Beer’ category, which is contributing to the increase in new breweries and demand for brewhouses. Last year, we saw a lot of volume shift out of draft, taprooms, and brewpubs and into package. This year, we have seen the mix swing back pretty strong, helping craft beer climb out of the big hole that 2020 dug us into. Luckily not as many breweries closed as we expected; it is quite low. Craft breweries have been remarkably resilient. It is a combination of their ability to be nimble and rapidly find new business strategies and opportunities.”
The Company’s assets have increased from $597K in 2020 to over $2M in 2021. Expectations for 2022 are over $4M due to expansion and increased sales. Total liabilities slightly decreased from 2020 to 2021. Expectations for 2022 are to continue decreasing liabilities by utilizing cash reserves to pay off debts.
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ABOUT BREWBILT MANUFACTURING COMPANY: (http://www.brewbilt.com)
BrewBilt is one of the only California companies that custom designs, hand crafts, and integrates processing, fermentation and distillation processing systems for the craft beer, cannabis and hemp industries using best-in-class American stainless steel and built by highly skilled local welders.
FORWARD LOOKING STATEMENTS This document contains forward-looking statements. Forward- looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation’s ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.
Jef Lewis, Chairman and CEO BrewBilt Manufacturing Inc. – BBRW (530) 802-5023 Info@BrewBilt.com Source: BrewBilt Manufacturing Inc.
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