LeanLife Health Inc (CSE:LLP) (OTCQB:LNLHF) (FRA:LL1) has announced that the first containers of Mike Tyson-branded energy drink from FoodCare Group have cleared customs in Los Angeles.
The company said the product cleared customs on April 16 and is making its way to its distribution facility in Arizona.
"This is a new product in the US marketplace, a product of great quality, combined with legendary Mike Tyson's branding, and our experienced sales and distribution team expect a great start," said CEO Stan Lis in a statement.
READ: LeanLife Health orders ten more cases of Mike Tyson-branded Iron Energy for US sales push
The company said it intends to provide further shareholder updates on specific details of the retail distribution, as its retail partners begin sales of the energy drink.
FoodCare Group, the supplier and manufacturer of Iron Energy, by Mike Tyson, is a market leader in Poland's energy drink market and is a leading brand in the Middle East. And LeanLife said it believes that Iron Energy will also appeal to North American consumers and will quickly gain retail and consumer acceptance.
The annual market value of the combined US and Canadian energy drink markets is estimated at over US$14 billion, the company said.
According to Allied Market Research, the global energy drinks market size was valued at $53.01 billion in 2018, and is expected to grow at a CAGR of 7.20% to reach $86.01 billion by 2026.
LeanLife said the drink will be aggressively priced and shelf-positioned to appeal to a broad consumer base. Market share growth is expected.
“The broad base of health and sports-oriented consumers will be attracted to this unique product alternative," the company added. "Iron Energy is enjoying great success in the European market. We believe Iron Energy will offer a similar success story in North America due to its compelling brand attributes, product taste, and energy benefits.”
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