Kaival Brands Signs Agreement with Prominent National Broker, Increasing Potential Distribution by Upwards of 40,000 Retail Stores
Kaival Brands seeking to rapidly expand distribution and accelerate sales of BIDI® Stick
GRANT-VALKARIA, Fla., March 09, 2023 (GLOBE NEWSWIRE)
— Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) (“Kaival Brands,” the “Company” or “we,” “our” or similar terms), the exclusive U.S. distributor of all products manufactured by Bidi Vapor, LLC (“Bidi Vapor”), including the BIDI® Stick electronic nicotine delivery system (ENDS), which are intended for adult tobacco consumers 21 and over, today announced that it has entered into a sales broker agreement with a prominent national broker to expand access to Bidi Vapor products from its current foundation of convenience-store distribution into new retail channels, including dollar, grocery and mass-merchandisers.
“As we look to push distribution into more channels beyond the convenience-stores, we are excited to announce a new agreement that gives us potential access to over 40,000 new locations,” said Eric Mosser, President & Chief Operating Officer of Kaival Brands. “We believe this agreement, along with our recent announcement of other new distribution agreements, further validates our reputation as a good actor providing adult consumers with the highest quality vape experience possible, and we look forward to working with all of our commercial channel partners to expand our revenue opportunities.”
The BIDI® Stick, which comes in tobacco, menthol and nine other adult-oriented flavor varieties, is the No. 1-selling, self-contained ENDS device in the United States, according to data from New York-based Nielsen. The BIDI® Stick contains tobacco-derived nicotine, is the subject of a pending Premarket Tobacco Product Application (PMTA), and is permissible to distribute in the United States, subject to Food and Drug Administration (FDA) enforcement.
“We are excited to further increase the reach of Bidi Vapor and its premium vaping device, the BIDI® Stick, into potentially more distribution opportunities throughout multiple retail channels,” stated Russell Quick, president of QuikfillRx, LLC d/b/a Kaival Marketing Services, the Company’s third-party sales and marketing vendor. “With our feet firmly in the convenience-store space, it is time not only to grow our existing footprint but to extend into more channels, like dollar and grocery stores, that meet our robust identification verification and youth access prevention requirements.”
