New Age Beverages (NBEV) Announces Acquisition of Brands Within Reach
- S&P 500 ends down as Apple dips and traders eye Powell speech
- CrowdStrike (CRWD) tumbles following Q3 earnings release
- Apple (AAPL) shares slide after TF Securities analyst cuts estimates on supply worries
- Horizon Therapeutics (HZNP) jumps after confirming takeover talks with 3 parties
- NetApp shares plunge 10% on Q2 revenue miss & weak outlook
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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.
"We are extremely excited to become part of New Age", commented Mr. Sonnois. "They are the fastest growing beverage company in the industry for a good reason. Our visions to make a difference for consumers with healthier products are completely aligned, and I am honored to be leading the newly integrated group as President of the Brands Division. The combination of our brands, teams and infrastructure is unique and best in class, and a great value for our customers to work with one major company who can provide them with a full portfolio of growth brands in growth categories underpinned by superior execution and brand support."
About Brands Within Reach (WWW.BWRGROUP.COM )
Brands Within Reach is a New York-based healthy products company dedicated to offering healthy innovative drinking and eating alternatives to consumers. The group operates a national hybrid distribution platform with marketing, merchandising and a full set of organizational capabilities and owns the licensing and distribution rights to worldwide known brands such as Nestea, Volvic, Evian and Illy Ready to Drink Coffee and others.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Valens Company (VLNS) Shareholders Vote in Favour of the Arrangement with SNDL
- Univar leaps on Brenntag takeover speculation
- SeaStar Medical (ICU) Appoints Rick Barnett as Chairman of the Board of Directors
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!