- Combined revenue of $4.99 million for the month of June represents a 22% increase versus the average of the prior 12 months [1]
- Expanded distribution, excellent base-volume growth in national accounts, and increased levels of promoted-volume all contributed to growth
- Integration of businesses and plans to capture $7.5 million in committed cost and revenue synergies on track
DENVER, CO / ACCESSWIRE / July 21, 2016 / New Age Beverage Corporation (formerly American Brewing and Búcha, Inc.) (OTC: ABRW), the Colorado-based owner of the XingTea®, XingEnergy®, Aspen Pure®, and the Búcha® Live Kombucha brands today announced that it achieved its highest recorded month in history in June. Company-wide sales on a combined and integrated basis was up 22% for the month versus the prior 12 month average, with its Aspen Pure® Brand, Búcha® Live Kombucha brand, and its Colorado Distribution arm leading growth.
"Of the 13 or so years we have been in operation, this was our highest month ever," said Scott LeBon, CEO of NABC, Inc., New Age Beverage's operating company. "I am so pleased because we delivered the result in the midst of our integration and creation of the new company with no loss of focus whatsoever. We have distributed huge brands like Vitamin Water, Monster and others via our Colorado distributor that historically really contributed. Now, we have a new portfolio and our own portfolio and they are doing great. Xing®, Aspen Pure®, and now Bucha® are all contributing and building momentum heading into the most important months of the year."
For the month of June, the Functional Waters group, led by the Aspen Pure® brand, was up 19% in revenue versus the average in the prior 12 month period. The Kombucha Beverages group, led by Búcha® Live Kombucha, was up 23% vs. the prior 12 months average, and the remainder of the business including XingTea®, XingEnergy® and the New Age Distribution group was up 22% over the same time period.
The New Age Beverage Corporation was created in the end of June to provide a portfolio of healthy beverages as alternatives for consumers. Since that time the team has been focusing on converging the businesses and capturing committed cost and revenue sysnergies of $7.5 million. In revenue synergies the Company is expanding distribution of Búcha® into the historical XingTea® and New Age accounts, and XingTea® and the other brands into Búcha's key customers. That focus is already contributing to sales with multiple new points of distribution for the Company's brands since the merger.
[1] Results for the 1-month period ending 6/30/16 of consolidated proforma net revenues (unaudited)
About New Age Beverage Corporation
New Age Beverage Corporation is a Colorado-based, healthy functional beverage company originally founded in 2003 and re-created via the combination of XingTea®, Aspen Pure® Artesian Water, Búcha® Live Kombucha, and New Age Beverages in June 2016. The Company trades under the symbol ABRW on the OTC exchange and intends to file with FINRA for a new trading symbol as soon as the Company name change is finalized. The Company competes in the fast growing healthy functional beverage segments including Ready to Drink (RTD) Tea, Kombucha, Energy Drinks and Functional Waters with the Brands XingTea®, Búcha® Live Kombucha, XingEnergy®, and Aspen Pure®. The brands are sold in 46 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.mybucha.com, www.xingtea.com, www.aspenpure.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 Corporation'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 Beverage Corporation 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, ABRW undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries about New Age Beverage Corporation please contact:
Chuck Ence
[email protected]
Websites:
www.mybucha.com
www.xingtea.com
www.aspenpure.com
SOURCE: New Age Beverage Corporation