NewAge, Inc. (Nasdaq: NBEV), the omni-channel
Colorado-based healthy and organic products company, today
announced that it has changed its name to NewAge, Inc. from New Age
Beverages Corporation to reflect the strategic priorities of the
business and to be representative of the significant opportunities
it sees in the broader consumer products goods arena. The change
follows the recent announcement to combine with ARIIX and four
additional e-commerce and direct selling companies, which will
create a global firm with estimated pro forma revenues in excess of
$500 million across more than 75 countries worldwide.
Although NewAge remains committed to the
beverage category in all channels, and beverages still represent
almost 50% of the Company’s portfolio, NewAge sees significant
opportunities in the broader consumer goods landscape, leveraging
its unique omni-channel route to market, and, in particular, its
significant direct and e-commerce presence in major markets around
the world.
Brent Willis, Chief Executive Officer of NewAge,
said, “Evolving to the name NewAge, which we have called ourselves
for a long time, was a natural progression for us. Our strategy is
and has always been to drive healthy functional brands in an
omni-channel route to market, but we have broadened our healthy
portfolio beyond beverages, having grown from just $2 million in
sales four years ago to now a pro forma of over $500 million
following the completion of the ARIIX transaction. We intend to
lead in healthy hydration & wellness, healthy appearance, and
nutritional performance platforms differentiating across the
platforms with plant-based ingredients, Noni, CBD, and micro and
phytonutrients. We are focused on improving the lives of our
consumers, and the livelihoods of our more than 400,000 independent
product consultants, representatives and affiliates, while
delivering superior growth and enhanced shareholder value by
focusing on doing well by doing good.”
About NewAgeNewAge is a
Colorado-based organic and healthy products company dedicated to
inspiring and educating consumers to “Live Healthy.” Once the ARIIX
transaction is completed, we will be the only omni-channel company
with access to traditional retail, e-commerce, direct-to-consumer,
and other channels across more than 75 countries worldwide, with a
network of over 400,000 exclusive independent product consultants,
representatives, and affiliates around the globe. NewAge markets a
portfolio of better-for-you products along with the companies,
ARIIX, ZENNOA, Shannen, MaVie, and Limu in healthy hydration &
wellness, healthy appearance, and nutritional performance
platforms. The Company has announced the merger of NewAge with
ARIIX and four other e-commerce/direct selling companies on July
21, 2020. This transaction is anticipated to close during the third
quarter of 2020. The company operates the websites newage.com,
noninewage.com, and a number of other individual brand
websites.
About ARIIXARIIX is a
Utah-based e-commerce and direct-to-consumer company with a network
of more than 130,000 independent representatives. The ARIIX
opportunity and brands are available in over 35 countries around
the world. Founded in 2011, ARIIX has been one of the most
disruptive and fastest-growing companies in the industry and
reached No. 35 on the DSN Global 100 in 2020, up from No. 57 in
2019. The company has earned over 200 awards for its business
practices and was recognized as one of the fastest-growing private
companies in America. The company operates the website
ariix.com.
About ZENNOAZennoa is an
e-commerce and direct selling company founded in 2016 with its
largest operations in Japan. "Zennoa" means "freedom, balance and
peace," and sells a portfolio of superfood-based dietary
supplements, beverages and fermented foods. Zennoa was created by
John Wadsworth and Kim Asay, also two of the original founders of
Morinda (Noni by NewAge). Mr. Wadsworth is credited with building
Tahitian Noni Juice into the original superfruit and helping to
create the superfood category. The company operates the website
zennoa.com.
About SHANNENShannen Global is
an Indonesian-based e-commerce and direct selling company founded
in 2018 that has become one of the leading beauty and skincare
companies in Indonesia with revenues exceeding $25 million USD. The
company sells facial and body washes, lipsticks, brow shapers and
other products, and operates the website shannenglobal.co.
About LIMUFlorida-based LIMU is
the category creator and global leader in fucoidan-rich nutritional
products and LIMU seaweed-based products and energy drinks. The
Company commercializes its portfolio via e-commerce and direct
channels and has over 2,000 independent, third-party, unsolicited
scientific research studies on its supernutrient, fucoidan,
available for public review on PubMed.gov. The company
operates the website thelimucompany.com.
About MAVIEMaVie is a DNA
mapping and wellness company with predictive genomic sequencing and
a range of nutritional products customized to an individual’s DNA
makeup. The company sequences an individual’s DNA and then develops
a customized set of nutritional and other products based on that
individual’s genetic makeup. MaVie, which is French for “my life,”
operates in Australia, Europe, Hong Kong, Singapore, South Africa,
and the United Arab Emirates. They manage the website
mavie.com.
Safe Harbor DisclosureThis
press release contains forward-looking statements that are made
under 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 expectations
regarding future results of operations, economic performance,
financial condition, projections, the acquisition of ARIIX,
statements about the benefit of the ARIIX transaction, the extent
and duration of COVID-19 on its business, and achievements of the
Company, including statements regarding NewAge’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 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. NewAge competes in a
rapidly growing and transforming industry, and risk factors,
including those disclosed in the Company's filings with the
Securities and Exchange Commission, might affect the Company's
operations. Unless required by applicable law, the Company
undertakes no obligation to update or revise any forward-looking
statements.
NewAge 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
NewAge, please contact:
Investor Relations Counsel:John
Mills/Scott Van WinkleICR – Strategic Communications and
AdvisoryTel: 1-646-277-1254/1-617-956-6736newage@icrinc.com
NewAge, Inc.:Riley TimmerVP
Investor RelationsTel: 1-801-870-8685Riley_Timmer@NewAge.com
NewAge, Inc.:Gregory A.
GouldChief Financial OfficerTel:
1-303-566-3030Greg_Gould@NewAge.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7342dd2c-ccbf-4b61-ab6c-e39734ea2539
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