NBEV stock is flying high today on news of an expanded deal with Walmart (NYSE:WMT).
New Age Beverages (NASDAQ:NBEV) notes that its deal with Walmart is expanding to include its Marley brand of drinks to the retailer. This is a positive for NBEV stock as it will allow the company’s drink to reach a larger group of customers.
It isn’t just that the deal is good because its Marley, but rather because of the scope of it. This marks the first time that New Age Beverages has signed a national distribution deal in the U.S. It’s also a positive for NBEV stock due to WMT being the largest retailer in the country.
“This is just the first initiative that we expect to do with them on the Marley brand and other New Age products on which we are in active discussions,” Craig Thibodeau, Vice President of Key Accounts for New Age Beverages, said about the deal with Walmart. “We know Walmart is equally as committed as New Age to providing healthier products for their customers, and we expect to make the full portfolio of New Age’s better-for-you products available as we expand the relationship.”
New Age Beverages also notes that it is expanding the Marley brand with other new versions of the drink. This includes a version coming in 2019 that will include CBD oil. However, don’t expect this to show up on WMT shelves anytime soon.
NBEV stock was up 21% as of noon Monday, but is down 9% since the start of the year.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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