06/03/2019 | Press release | Distributed by Public on 06/03/2019 05:14
NEW AGE BEVERAGES CORPORATION (NASDAQ: NBEV) today announced the signing of a definitive agreement to purchase Brands Within Reach (BWR), including the brand licensing and distribution rights to Nestea, Volvic, Illy Ready to Drink Coffee, and other healthy brands.
Adds the globally recognized brands of Nestea, Volvic, Illy and others to New Age
Widens the gap versus all other beverage companies as the preeminent one-stop-shop provider of healthy beverages in the industry
Significantly increases the North American Sales and Marketing, Supply Chain, and Distribution footprints to enable significant capture of cost and revenue synergies
Strengthens brand building, sales and distribution expertise in North America to accelerate growth of the combined New Age and BWR portfolios
The combination with Brands Within Reach brings the scale of New Age to over $320 million and further adds to its bottom line profitability. BWR and New Age together will have the most extensive one-stop-shop of healthy beverages available to any foodservice or retail customer in North America, with an extensive low-cost national distribution and logistics footprint.
Brent Willis, CEO of New Age commented, 'We are extremely fortunate to have someone of Olivier's caliber joining New Age, along with the rest of his very powerful team. Adding Illy, Nestea, Evian and Volvic into our offerings is incredible, and adding the marketing, sales, and distribution capabilities of BWR to New Age is equally as impacting.'
Olivier Sonnois founded Brands Within Reach in 2003, following significant success as a senior executive with Danone. Since that time he has built BWR into a highly respected brand incubator, and has nurtured numerous globally recognized brands to success in North America through leverage of BWR's extensive marketing, sales, distribution capabilities and retailer relationships. BWR owns key licensing and distribution rights in the United States for healthy positioned and fast growing beverages such as Nestea Ready to Drink teas, Volvic Natural Spring Water, Illy Ready to Drink Coffee in retail channels, Evian Natural Spring Water in the Natural Channel and Found Sparkling beverages , Kusmi Tea, Saint-Géron Sparkling Water and select natural and organic snacks such as Nature Addicts, Grand-Mere, Lucien Georgelin and La Mere Poulard.