DENVER, CO / ACCESSWIRE / August 8, 2016 / New Age Beverages Corporation (OTC: NBEV) the Colorado-based owner of the XingTea®, XingEnergy®, Aspen Pure®, and the Búcha® Live Kombucha brands today announced that it has finalized its name change to New Age Beverages Corporation and has been awarded the ticker symbol NBEV.
New Age Beverages Corporation was formed on June 30th 2016 when Búcha, Inc. acquired the assets and XingTea, AspenPure, and New Age Beverages LLC. Búcha, Inc., the public entity acquirer was formerly the American Brewing Company and traded under the symbol OTC: ABRW.
American Brewing was originally founded in 2010 in Edmonds, Washington and became an award winning Craft Brewer. The business continued to expand distribution primarily in the Northwest United States, and in April 2015 acquired the assets of B&R Liquid Adventure, which included the brand Búcha® Live Kombucha. Búcha® Live Kombucha was one of the leading brands in the burgeoning Kombucha segment, which in 2015 reached a scale of $529 million according to the Wall Street Journal. In November 2015, American Brewing sold their Brewery and assets to focus on the Kombucha opportunity, and changed its name to Búcha, Inc.
The sale of the brewery and craft beer operation ultimately completed in May 2016, coincident with the acquisition of the brands and assets of New Age, based in Denver, Colorado. At that time, the firm decided to integrate its California operations into the Colorado headquarters of New Age. The firm officially changed its name to the New Age Beverages Corporation, and was subsequently issued the ticker symbol "NBEV."
Neil Fallon, Executive Chairman of the NBEV and founder of American Brewing commented, "I couldn't be happier with the evolution of the firm and its focus. It was a hard decision for me to part ways with the brewery, but the right decision to focus on the opportunity to become the World Leader in Healthy Functional Beverages. We have the the brands, the scale, the infrastructure and the leadership to be able to acheive it, and we will let noithing get in our way. We love our new smbol NBEV, and indeed have the "in" and "new" beverages that consumers are increasingly gravitatating to."
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 American Brewing'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. American Brewing 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.
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SOURCE: New Age Beverages Corporation