– New Age Beverages Corporation (NASDAQ: NBEV)
- Advantage Solutions, with more than 120 offices nationally, manages more than $65 Billion of CPG brands
- Agreement covers all channels to build on New Age’s recent growth with major national retail accounts
New Age Beverages Corporation (NASDAQ: NBEV), the Colorado-based leading all-natural and organic healthy functional beverage company whose brands include Xing®, Aspen Pure® Probiotic, Búcha® Live Kombucha, Marley®, and Coco-Libre®, today announced the formation of a partnership with Advantage Solutions, one of the leading sales and marketing agencies in the consumer packaged goods industry.
Advantage Solutions is a multi-billion-dollar enterprise with offices in over 120 cities throughout the United States calling on more than 17,000 retail accounts and conducting more than 250,000 sales calls annually. The company has unprecedented retailer access and relationships with a long track record of success, and currently represents brands that make up more than $65 billion in retail sales. Advantage works with world class brands including La Croix, Ben &Jerry’s, Seventh Generation and others.
Joel Turner, Director of Sales for Advantage Solutions, commented, “We partnered with New Age because of their full portfolio of healthy beverages that we know retailers and consumers are gravitating to more and more. New Age’s one-stop-shop approach makes it very efficient for us to work with them, and the response from retailers to their entire portfolio has been tremendous. Their new brands are innovative and on trend and we see nothing but upside as we work with their team to expand the depth and breadth of New Age with major retailers across the US.”
New Age has been expanding key account penetration as a key priority since it was formed last year. The Company started out with less than 20,000 key accounts in 2016 in mostly the Western United States. Since that time, the firm has added more than 10 of the top 100 global grocery, mass, club and convenience retailers into its mix, including 7 Eleven, Circle K, H-E-B, Jumbo, BJ’s Wholesale, Ahold Delhaize, Loblaw’s, Sobeys and others.
Michael Cunningham, New Age’s SVP of Sales, commented, ” Advantage Solutions is a world class partner with embedded resources in all markets in virtually all accounts across all channels. We partnered with them because of their extensive reach, quality reputation, and the nearly 800 associates working on sales of the New Age portfolio. In September alone, New Age added 10,047 new points of distribution, many of which Advantage Solutions partnered with us to gain. None of the impact from those accounts is in our Q3 numbers, but the benefit will be seen in Q4 and beyond. We have just scratched the surface in our national key account penetration, and we know that our portfolio is bang on for retailers and consumers as they increasingly switch to healthier choices.”
Since uplisting to the NASDAQ exchange in Q1 2017, New Age has completed a number of additional acquisitions, significantly strengthened its financial platform, and established a brand portfolio competing all in the growth categories of the beverage industry. The Company’s one-stop-shop strategy of providing a portfolio of healthy functional beverage brands for retailers and distributors has led to New Age becoming one of the top 10 healthy beverage companies in the world. On its newly acquired brand platforms, New Age has developed Marley Mate, a yerba mate beverage; PediaAde, a children’s rehydration beverage; and Aspen Pure Probiotic, the world’s first probiotic water. New Age is rolling these products out now and is also launching innovative new offerings under its Xing and Coco-Libre brands in the 4th quarter. Significant investments have been made behind these initiatives in Q3 that are expected to contribute to above expectations performance on a full year basis in 2017 and provide a larger base from which to drive further growth in 2018.
About New Age Beverages Corporation (NASDAQ: NBEV)
New Age Beverages Corporation is a Colorado-based, leading all-natural and organic healthy functional beverage company that was founded in 2003. The Company competes in the fast-growing healthy functional beverage segments including Ready to Drink (RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks, Coconut Waters and Functional Waters with the brands XingTea®, Marley One Drop®, Búcha® Live Kombucha, XingEnergy®, Marley Mellow Mood®, Marley Mate™, Coco-Libre®, and Aspen Pure® PH and Aspen Pure® Probiotic Water. 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 http://newagebev.us, http://newagehealth.us, www.mybucha.com, www.xingtea.com, www.aspenpure.com, www.drinkmarley.com, www.cocolibre.com, and https://shop.newagebev.us.
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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, NBEV undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries about New Age Beverages Corporation please contact:
Amato and Partners, LLC
Investor Relations Counsel
Source: New Age Beverages Corporation