NewAge Closes Acquisition of Japan-Based Aliven, Inc.
June 03 2021 - 6:00AM
NewAge, Inc. (Nasdaq: NBEV), the Colorado-based
organic and healthy products company intending to become the
world’s leading social selling and distribution company today
announced that it acquired the business of Japan-based Aliven,
Inc., which is expected to add over $20 million in net revenue and
more than $3 million in annual EBITDA to one of NewAge’s largest
core global markets.
Established 15 years ago, Aliven, Inc. is one of
the Japan’s most well-respected companies in the industry and sells
a portfolio of differentiated healthy products including Skin Care
Products infused with cultured stem cells, Nutritional Products,
and their patented Invel® Far-Infrared Technology Products that
were demonstrated in human trials to stimulate nitric oxide
production for increased blood flow and muscle recovery and
reduction of localized pain.
Aliven is anticipated to bring over $20 million
in annualized net revenue and more than $3 million in annual EBITDA
to NewAge. In addition to the expected top and bottom-line
contributions, Aliven has more than 100,000 customers and
independent representatives to add to the group of talented and
dedicated leaders at NewAge.
NewAge issued approximately 1 million shares of
NewAge common stock in consideration for the assets of Aliven. Full
details of the final asset purchase agreement are included in the
Company’s Current Report on Form 8-K filed on June 3, 2021.
“We believe the acquisition and integration of
Aliven will be a perfect strategic fit with our current business in
Japan,” commented Joseph Wadsworth, NewAge Japan President. “We
will immediately begin to fully integrate Aliven into NewAge and
believe this will aid in the acceleration of our sales and profit
growth in this large and long-term important region for
NewAge.”
Wadsworth continued, “Further bolstering our
Japan business will be Yasuyuki Oi, President of Aliven, adding
significant senior leadership strength to the Japan executive team,
where he will contribute his talent and experience to growing sales
and strengthening government relations. This acquisition is the
next step in our ongoing strategy to make NewAge the preeminent
social seller and direct-to-consumer marketer in Japan, and further
evidence of our long-term commitment to winning in this globally
important market.”
About NewAge, Inc. NewAge is a
purpose-driven firm intending to become the world’s leading social
selling and distribution company. Colorado-based NewAge
commercializes a portfolio of organic and healthy products
worldwide through primarily a direct route-to-market system. The
company competes in three major category platforms including health
and wellness, healthy appearance, and nutritional performance and
leads a network of more than 400,000 exclusive independent
distributors and Brand Partners around the world.
The Company operates the
websites NewAge.com, Noninewage.com, Ariix.com,
Mavie.com, Thelimucompany.com, Zennoa.com and a number of other
individual brand websites.
Safe Harbor Disclosure
This 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, and financial condition. 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.
For investor inquiries about
NewAge please contact:
NewAge Investor Relations:Riley
TimmerVice President, Investor RelationsTel:
1-801-870-8685Riley_Timmer@NewAge.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6f9b7170-49de-4a2d-a25b-6e1c4b81f9c4
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