- nBev utilizing own DSD network and account relationships to facilitate distribution expansion
- First ambient distribution of a Kombucha brand, leveraging Bucha's proprietary production process facilitating ambient shipping without product degradation of live probiotics
DENVER, CO / ACCESSWIRE / August 11, 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 expanded its Búcha® Live Kombucha brand through the New Age Beverage distribution system in Colorado and gained more than 200 new points of distribution in the first 30 days since the combination was announced on June 30th.
New Age Beverages Corporation was formed on June 30th, 2016 when Búcha, Inc. acquired the assets and XingTea®, AspenPure®, and New Age Beverages LLC. One of the major planned benefits of the acquisition was a range of cost and revenue synergies totaling more than $7.5 million. In cost synergies the group is targeting cost of goods sold, shipping, operating expense and other savings. In revenue synergies, the Company is looking to leverage its existing customer relationships, and utilize existing distribution relationships with its own DSD operations and its network of DSD providers across the United States.
nBev has now gained more than 200 outlets in just Colorado alone in the past few weeks, including multiple locations in the Denver Airport, including major outlets like the Vertical Mile and Jamba Juice. The group has also begun penetration of the convenience and gas channel including outlets such as Shell, Conoco, Amoco and others, and has penetrated alternative channels including Hilton Hotels and major outlets including Castle Rock and Littleton Hospitals.
Josh Hillegass, Vice President of the New Age Beverage Operations in Colorado commented, "Talking about synergies and delivering them are two different things. There is a big difference between plans and execution, and I am very pleased that our team is executing. We service more than 4,500 outlets in the Colorado market alone, are just getting started, and the responsiveness from customers and sell through on Búcha has been excellent. It is great to have a new brand in our portfolio, that we own, that consumers love, and provide excellent margins for both retailers and distributors."
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 newly issued symbol NBEV (formerly ABRW) on the OTC exchange. 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'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, nBEV undertakes no obligation to update or revise any forward-looking statements.
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SOURCE: New Age Beverage Corporation