NEW AGE EXPANDS PARTNERSHIP WITH NESTLE S.A. TO RELAUNCH NESTEA POWDERED TEA IN THE UNITED STATES
October 17 2019 - 6:30AM
New Age Beverages Corporation (NASDAQ: NBEV), the Colorado-based
organic and natural products company, today announced the expansion
of their partnership with Nestle, including the broadening of their
license agreement on NESTEA to now include all products under the
brand, including NESTEA Powdered Tea products in the United States.
As a result, New Age is launching NESTEA Powders
immediately in its e-commerce system, targeting its current
database of more than 1,000,000 consumers, and with major retailers
through the United States.
NESTEA Powdered Tea has historically generated
sales at retail of more than $30 million. The Coca-Cola Company
used to own the NESTEA license for ready-to-drink beverages,
the same license New Age now has within the U.S. Both NESTEA
ready-to-drink and powdered teas have a large base of passionate,
loyal consumers across the country with brand awareness of 89%, the
largest of any brand in New Age’s portfolio.
According to Nielsen, the powdered tea segment
in the United States is valued at $259 million for the latest
52-week period. New Age intends to capture a significant share of
the market, leveraging NESTEA’s awareness and consumer loyalty, and
will make the brand available through its own
direct-store-distribution system, its network of distributor
partners throughout the U.S., and its footprint with major
retailers throughout the country.
New Age has re-introduced some of NESTEA
Powders’ most popular flavors on its e-commerce platform this week
at (www.newage.com), and is expanding the range of Nestea Powdered
products; including new innovative flavors and recipes at retail,
e-tail and through its own e-commerce platform.
Olivier Sonnois, President for North
America for New Age, commented: “While we are relaunching
an innovative natural and organic NESTEA ready-to-drink assortment
across America’s largest retailers (www.nestea.com), we are equally
as excited to now add our innovation and distribution expertise to
the NESTEA powdered portfolio. We are thrilled to have the
opportunity to manage the entire Nestea brand in the United States,
and are committed to making it a sizable business for both Nestlé
and New Age. We are working closely with NESTEA’s global
procurement team on maintaining the highest product quality
standards and operating procedures, while we focus at New Age on
fulfilling the latent demand. We have already received thousands of
consumer inquiries about NESTEA Powders from loyal consumers, and
look forward to expanding this legendary brand across the
U.S.”
NESTEA is a registered trademark of Société des
Produits Nestlé S.A.
About New Age Beverages Corporation
(NASDAQ: NBEV) New Age
is a Colorado-based healthy products company dedicated to inspiring
and educating consumers to "live healthy." The Company is the only
omni-channel company with access to traditional retail, e-commerce,
direct-to-consumer, and medical channels across 60 countries around
the world. New Age is also the only one-stop-shop of healthy
beverages and includes the brands Nestea, Illy Coffee, Volvic,
Evian, Tahitian Noni, TeMana, Búcha Live Kombucha, Marley, and
others. New Age competes in the growth segments of the >$1
trillion-dollar non-alcoholic beverage industry and has become one
of the 40 largest non-alcoholic beverage companies, one of the
largest healthy beverage companies, and the fastest growing in the
world over the past three years.
The Company operates the websites
www.newagebev.com, www.bwrgroup.com. www.morinda.com,
www.mybucha.com, www.xingtea.com, www.drinkmarley.com,
www.nhancedcbd.com, and www.cocolibre.com.
New Age has exclusively partnered with the world's 5th largest
water charity, WATERisLIFE, to end the world water crisis with the
most innovative technologies available. Donate at WATERisLIFE.com
to help us #EnditToday.
For investor inquiries about New Age
Beverages Corporation please contact:
Media:Desiree Rosa MULTIPLY
Tel: 202-292-4566NewAgeBev@wearemultip.ly
Investor Relations Counsel:Cody
Slach, GatewayTel 949-574-3860NBEV@GatewayIR.com
New Age Beverages
Corporation:Gregory A. GouldChief Financial OfficerTel
303-566-3030GGould@NewAgeBev.com
NewAge (NASDAQ:NBEV)
Historical Stock Chart
From Aug 2024 to Sep 2024
NewAge (NASDAQ:NBEV)
Historical Stock Chart
From Sep 2023 to Sep 2024