LOS ANGELES, CA--(Marketwired - October 11, 2016) - Upper Street Marketing, Inc. (OTC PINK: UPPR) today announced former Chief Financial Officer of Mike's Hard Lemonade U.S., Feza Sanigok, will serve as CEO and interim chief financial officer of Upper Street and will lead a new venture with the acquisition of Ennoble Progressive Beverage Distribution Inc. The partnership marks Upper Street Marketing's entrance into the flavored malt beverage industry to build a national distribution network and launch multiple progressive adult beverages over the next five years through acquisitions and organic in-house developed products and brands. Former Mike's Hard Lemonade executive Chris Pfeifer will serve as chief operating officer and chief marketing officer.
Upper Street Marketing Director Gordon McDougall said focusing on underdeveloped and high growth potential market segments while expanding locally successful brands into a national scale proposition offers first-mover advantage into key flavored malt beverages segments, such as progressive adult beverages, which promises explosive growth potential in the U.S. for the next 10 to 20 years. "By itself, any particular brand with the right focus and sufficient investment could extrapolate to a potential $100-million business. We also plan to develop an invaluable national distribution network -- and only a handful of those exist right now," McDougall said.
Sanigok and Pfeifer were part of the team that guided Mike's Hard Lemonade to more than $500 million in revenue at retail. The team grew the company's top-line revenue from $138 million to more than $300 million during a historic down market in the beer industry and increased the operating contribution of the brand portfolio by five times during their tenure, McDougall said.
Feza, he said, was instrumental in quadrupling the company's operating income in four years, and Pfeifer created and launched three of its most successful products: Palm Bay ($50 million per year in revenue), Mike's Hard Lemonade U.S. mixer pack ($20 million per year in revenue) and ROCKSTAR+VODKA ($10 million per year in revenue).
McDougall said the team soon plans to announce a four-year plan for new brands. The plan includes new flavor launches, brand extensions and new brand acquisitions to be distributed through a national distributor network. Sanigok said the team plans to enlist the proven promotional strategies that brought Mike's Hard Lemonade to the top.
McDougall said that, in an effort to focus its energy and talent on the alcohol market, Upper Street Marketing will not acquire beverage company SPriZZi, and plans to unwind the MagMo acquisition.
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