NEWS PROVIDED BY
New Age Beverages Corporation
Dec 06, 2018, 06:00 ET
DENVER, Dec. 6, 2018 /PRNewswire/ -- New Age Beverages Corporation (NASDAQ: NBEV), the Colorado-based healthy lifestyles company focused on becoming the world's leading healthy beverage company, today announced the signing of a definitive agreement to acquire Morinda Holdings, Inc., a Utah-based healthy lifestyles and beverage company with operations in more than 60 countries around the world.
- Merger creates the 40th largest non-alcoholic beverage company in the world with $300 million in net revenue,$20 million in adjusted EBITDA, $200 million in assets, no debt, and $40 million in cash and working capital
- Combination brings a leading portfolio of healthy beverages, with multi-channel penetration spanning traditional retail, e-commerce, and in-home; with a hybrid route-to-market spanning direct-store-delivery (DSD), wholesale, and direct-to-consumer
- Provides New Age's Health Sciences products and portfolio of CBD-infused beverages immediate access into 60 countries, especially in China and Japan