Gains authorization throughout all Jumbo hypermarket and supermarket outlets in Chile on its XingTea® Ready to Drink Tea brand
First new international expansion since the Company's uplist to NASDAQ in February
DENVER, CO--(Marketwired - Mar 2, 2017) - New Age Beverages Corporation (
Jumbo is the largest retail company in Chile and the third largest in Latin America with recent retail sales in excess of $19 Billion across more than 1,000 hypermarkets, supermarkets and other outlets primarily in Chile, Argentina, Peru Brazil and Colombia.
Less than two weeks 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. One of the major drivers of organic growth that the company shared with investors was the penetration of selected international markets. One component of the entry strategy in those markets is to partner with leading multi-national retail organizations. The expansion in Chile with Jumbo is a reflection of that strategy taking hold, meanwhile New Age expects to reinvest the profits gained from this incremental distribution into brand building in the Chilean and surrounding markets.
Brent Willis, Chief Executive Officer for New Age Beverages, mentioned, "We view international expansion as fundamental part of achieving our goal of becoming the world's largest healthy functional beverage company. We have no intention of gaining opportunistic distribution, but rather intend on building our brand portfolio in high growth/low relative competitive intensity markets. Our distribution partner in Chile, Bebidas Chile, led by Commercial Director Jorge Chamudes, has done a superb job and we look forward to building the entire New Age portfolio of brands in Chile together with them going forward."
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.
For investor inquiries about New Age Beverages Corporation please contact:
Amato and Partners, LLC
Investor Relations Counsel