DENVER, CO--(Marketwired - Feb 28, 2017) - New Age Beverages Corporation (
10 days ago, New Age Beverages Corporation completed a successful up-listing to the NASDAQ Capital Market Exchange together with a financing led by Aegis Capital and Maxim Group that raised more than $17 million. In addition, the Company has been expanding organically with the most recent reported comparable quarterly revenue growth of 11% vs. prior year. One of the drivers of the growth has been the Búcha® Live Kombucha brand, that has been growing in both distribution and same store sales growth since becoming part of the New Age portfolio.
New Age has long been a technological leader in the Kombucha segment with its proprietary production process that leads to no vinegar-like aftertaste, and no secondary fermentation, carbonation or sugar production after bottling. Now, coupled with its 9 months of shelf-life vs. a 90-day average for most other kombuchas, the product has evolved to become fully shelf-stable with no requirements for refrigeration until opened. New Age has been able to achieve shelf-stability with no deterioration to the more than 2 Billion CFU's (Colony Forming Units/Probiotics) at production and no degradation to its consumer preferred taste profile.
The move to shelf-stability opens the brand up to delivery across all channels of distribution throughout North America and internationally. As a result, the Búcha® Live Kombucha Brand has recently gained authorizations for distribution from major regional and national retailers spanning more than 2,000 stores, including major national and regional Texas-based grocery retailers, major regional East Coast grocery retailers, and a major Canadian convenience store operator. These new commitments have all been gained in the past 30 days, and will be rolling out to all committed stores over the next few months.
Brent Willis, Chief Executive Officer of New Age Beverages commented, "We were very pleased to have completed the uplist to the NASDAQ and financial raise with some truly world-class long-term financial partners just weeks ago. However, continuing our momentum of organic growth is what really matters and what will drive returns for all our shareholders in the long-term. Leveraging technological points of difference to gain these wins is extremely gratifying, and we believe we are just at the tip of iceberg with what we have in front of us."
About New Age Beverages Corporation (
New Age Beverages Corporation is a Colorado-based, healthy functional beverage company originally founded in 2003 and re-created via the combination of XingTea®, Aspen Pure® Rocky Mountain Water, Búcha® Live Kombucha, and New Age Beverages in June 2016. In October 2016, the Company signed a management agreement to take over the Marley One Drop® RTD Coffee, and Marley Mellow Mood™ Relaxation Drinks brands. The Company competes in the fast growing healthy functional beverage segments including Ready to Drink (RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks and Functional Waters. The Company's brands are sold across all 50 states within the US and in more than 10 countries internationally across all channels via direct and store door distribution systems. The company operates the websites www.newagebev.us, www.mybucha.com, www.xingtea.com, www.aspenpure.com, and www.drinkmarley.com.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company including statements regarding New Age Beverage's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. New Age Beverages competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission might affect the Company's operations. Unless required by applicable law, New Age Beverages undertakes no obligation to update or revise any forward-looking statements.
Websites: www.newagebev.us
www.mybucha.com
www.xingtea.com
www.aspenpure.com
www.drinkmarley.com
Contact Information:
For investor inquiries about New Age Beverages Corporation please contact:
Amato and Partners, LLC
Investor Relations Counsel
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