DENVER, COLORADO, AUGUST 1, 2018 – NEW AGE BEVERAGES CORPORATION (NASDAQ: NBEV), the Colorado-based organic and natural healthy functional beverage company dedicated to making a difference for consumers with better-for-you alternatives, today announced the beginning of a new relationship with Menards, beginning with distribution of their XingTea® brand in all Menards® stores across the United States and promotion with key Menard’s sponsorships and marketing efforts.
- New Age Beverage’s XingTea® brand has begun shipping to all 307 Menards® home improvement stores throughout the United States
- Menards® and New Age are working together with leading NHRA driver Matt Hagan, and Menard’s sponsorship of NHRA events to drive awareness with Menard’s valued customers
Menards®, widely recognized as a leading home improvement outlet with more than 307 stores nationwide, sells a range of food and beverages in strategic shopping locations throughout their outlets. A family-owned company started in 1958, Menards® is headquartered in Eau Claire, Wisconsin and has stores in Wisconsin, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin and Wyoming. XingTea® will be heavily promoted in their grocery department throughout all stores nationwide, as Menards furthers their commitment to provide healthier and better-for-you alternatives to their customers.
As part of the agreement, New Age and Menards® are teaming up to promote the brand with leading NHRA driver Matt Hagan. Matt will be making appearances across multiple Menards® locations to promote XingTea® and educate consumers on benefits of healthier beverage choices versus soft drinks and other traditional beverages. In addition to consumer education, Matt Hagan will personally be sampling XingTea® at every store appearance. XingTea® will also be featured as a sponsor of Matt Hagan’s Funny Car team for the eight remaining NHRA National Event races set to begin in mid-August. All races are televised nationally on Fox and Fox Sports, providing a strong brand awareness opportunity for the Xing brand.
Brent Willis, Chief Executive Officer of New Age Beverages commented, “We are so excited to begin this new relationship with Menards. It is one of my favorite stores, and my family goes there at least once a week. Since executing our recent financing, we have been able to start to catch up on demand and structure these types of relationships with world class retailers like Menards. Now, with our new permanent financing, that remains on track and is finally progressing to close, we expect to be able to further expand distribution and finally market our brands to capitalize on consumer trends to healthier choices that are quickly approaching a tipping point.”
About New Age
New Age Beverages Corporation is a Colorado-based healthy functional beverage company that was created in 2016 and 2017 with the combination of Búcha Live Kombucha®, XingTea®, Coco-Libre®, and Marley®, to create a one-stop-shop solution for retailers and distributors providing healthier beverages in the disruptive growth segments of the $1.023 trillion-dollar non-alcoholic beverage industry. In that period, New Age has become the 56th largest beverage company, one of the largest healthy beverage companies, and the fastest growing in the world over the past two years. New Age competes Ready to Drink (RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks, Coconut Waters, Functional Waters, and Rehydration Beverages with the brands Búcha® Live Kombucha, XingTea®, XingEnergy®, Marley One Drop®, Marley Mellow Mood®, Marley Mate™, Marley Cold Brew™, Coco-Libre®, PediaAde™, and Aspen Pure® PH and Aspen Pure® Probiotic Water. The Company’s brands are sold across all 50 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.newagebev.com, www.newagehealth.us, www.mybucha.com, www.xingtea.com, www.aspenpure.com, www.drinkmarley.com, www.cocolibre.com, and https://shop.newagebev.com.
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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 Beverages 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.
For investor inquiries about New Age Beverages Corporation please contact:
Cody Slach, Liolios Group, Inc.
Investor Relations Counsel
New Age Beverages Corporation
Chuck Ence, CFO