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NewAge, Inc. (NBEV)

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2.5400-0.3000 (-10.56%)
At close: 4:00PM EDT

2.5100 -0.03 (-1.18%)
After hours: 6:40PM EDT

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Previous Close2.8400
Open2.8500
Bid2.4900 x 1800
Ask2.5200 x 3000
Day's Range2.4500 - 2.8500
52 Week Range0.9810 - 3.2200
Volume3,640,109
Avg. Volume1,967,962
Market Cap249.967M
Beta (5Y Monthly)1.83
PE Ratio (TTM)N/A
EPS (TTM)-1.1640
Earnings DateAug 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.00
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  • NewAge DSD Division Experiencing Strong Growth
    GlobeNewswire

    NewAge DSD Division Experiencing Strong Growth

    Adds the ZenWTR Brand to Its Expanding Portfolio ZenWTR is made from 100% Recycled Certified Ocean-Bound Plastic NewAge adds the ZenWTR brand to its expanding portfolio ZenWTR is sourced from 100% Recycled Certified Ocean-Bound Plastic NewAge adds the ZenWTR brand to its expanding portfolioDENVER, Oct. 15, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based omni-channel social selling and distribution company, today announced that its DSD Division has added one of the most sought-after new brands in the US, ZenWTR, to its portfolio and is on track to record double-digit organic growth in 2020 over 2019. Brent Willis, Chief Executive Officer of NewAge, said, “The NewAge Direct-Store-Distribution (DSD) division, under the exceptional leadership of Josh Hillegass, is having one of its highest performing years on record. The Division experienced significant disruption earlier in the year due to COVID-19 and the shutdown of the majority of its foodservice and on-premise customers. Despite that obstacle and numerous complexities with the traditional grocery and convenience retailers, the group has offset those impacts to deliver record performance so far in 2020.”NewAge has been awarded the exclusive distribution rights in its market area for ZenWTR. Every bottle of ZenWTR is made from 100% recycled, Certified Ocean-Bound plastic sourced from coastal environments. The brand is vapor distilled, has a 9.5pH alkalinity level, and is infused with electrolytes for superior hydration and minerals for a pure, clean, and crisp taste.As part of the launch, NewAge will be providing special blitz programs and incentives, along with multiple in-market activities to drive increased availability, awareness, and consumer trial. The model that NewAge is employing is consistent with what it has been doing with many of its long-standing partners like Sparkling Ice, Jarritos, and others that are recently experiencing record growth.“We continue to see milestones eclipsed month after month, from some of our longest standing partners who are achieving record sales heights,” said Josh Hillegass, President of NewAge’s DSD Division. “The addition of new brands, such as ZenWTR, has further strengthened our already amazing catalog of brands. Our incredible team continues to manage through these challenging times and I am impressed each and every day with the drive, loyalty and the continued dedication of all of our associates. We are thrilled with the direction of this company and look forward to an exciting future full of great success.”NewAge’s DSD Division is one of the largest and fastest growing independent distributors in the country. The DSD Division has grown consistently for more than 10 years with three main segments including Salty-Snack distribution, non-alcoholic beverage distribution, and Beer & Spirits distribution, with dedicated routes and teams for each.About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company intending to become the world’s leading social selling and distribution company. The Company differentiates with its omni-channel route to market with access to traditional retail, e-commerce, direct-to-consumer, and other channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of efficacious healthy functional brands in three category platforms including Health & Wellness, Healthy Appearance, and Nutritional Performance. The Company operates the websites newage.com, noninewage.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, financial condition, the acquisition of ARIIX, the continued growth at the DSD Division, the continued distribution of certain products, statements about the benefit of the ARIIX transaction, and the extent and duration of COVID-19 on its business. 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 Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.comPhotos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/827f8ef8-cbdf-428c-a289-12253afcbc08https://www.globenewswire.com/NewsRoom/AttachmentNg/5a5c26f8-f542-482f-8630-fc46e5852f3b

  • NewAge Expands Operations To Brazil
    GlobeNewswire

    NewAge Expands Operations To Brazil

    NewAge Brazil Product Line NewAge Brazil Product LineDENVER, Oct. 09, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based omni-channel social selling and distribution company, with a network of independent business owners across 75 countries worldwide when combined with ARIIX, today announced that it has expanded operations to Brazil, one of the six largest direct selling markets in the world.NewAge and ARIIX announced their plans to merge on July 20, 2020, which will create a combined company with pro forma revenues of more than $500 million with operations worldwide and access to both developed and developing markets in key areas of the world. Since the announcement, the company has been working on identifying and capturing synergies as part of the transaction and completing the audit of ARIIX’s financial statements to enable closing of the transaction. In addition to cost synergies of more than $20 million, NewAge also identified revenue synergies from cross-sales of brands and providing access for respective leaders to each other’s markets. The Brazil expansion is a realization of one of those revenue synergies.  Brazil is one of the six largest markets globally in direct selling. Industry-wide, the market totals over 3.8 million independent representatives with annual sales of approximately $10 billion. NewAge established operations and its office in Sao Paulo in the second quarter and is now expanding operations to take advantage of the burgeoning opportunity there. ARIIX has recently commenced operations in Brazil.“The building of the Brazil market is yet another important step in our strategy to bring our products and brands through our omni-channel strategy to emerging markets around the globe,” said Brent Willis, Chief Executive Officer of NewAge. “Everything we have done with our Brazil expansion has been very local and very Brazilian, which is a must to be successful. Providing access to the market opportunity there for all our reps from all our partner companies is a great benefit for them, and a great growth opportunity for us.”   Fred Cooper, CEO of ARIIX commented, “Expansion to NewAge’s global market footprint was one of the great opportunities that we wanted to provide for our reps, and I am excited to see it happening so quickly. With all of the momentum that ARIIX is experiencing, coupled with the excitement of the announcement, we are drawing increased interest to join the NewAge ARIIX platform following the merger. Over the next several months, we will continue to locally register additional brands and products in Brazil and other Latin American market strongholds. Our ability to now ship products locally, direct to consumers, well positions us to be able to capitalize on the potential of this growing market.”About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company dedicated to inspiring and educating consumers to “Live Healthy.” The Company is an omni-channel distribution company with access to traditional retail, e-commerce, direct-to-consumer, and medical channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of differentiated healthy functional brands in three category platforms including Health & Wellness, Healthy Appearance, and Nutritional Performance. The Company operates the websites newage.com, noninewage.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, financial condition, the acquisition of ARIIX, statements about the benefit of the ARIIX transaction, and the extent and duration of COVID-19 on its business. 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 Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.comA photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bf2a765a-edd1-46d6-a4ca-9ba821136131

  • NewAge and ARIIX Update Merger Agreement
    GlobeNewswire

    NewAge and ARIIX Update Merger Agreement

    WATERisLIFE WATERisLIFEPending merger and due diligence on track Revised terms provide clarity on total considerationDENVER, Oct. 01, 2020 (GLOBE NEWSWIRE) -- NewAge, Inc. (Nasdaq: NBEV), the Colorado-based omni-channel social selling and distribution company with a network of independent business owners across 75 countries worldwide, today announced that it has amended the merger agreement for the acquisition of ARIIX, and that it expects to close the transaction no later than November 30, 2020.Details of the amended and restated agreement and plan of merger are included in the Company’s Current Report on Form 8-K dated October 1, 2020, and the deadline for completing the audit of the ARIIX’s financial statements and completing the transaction has been extended until November 30, 2020.Brent Willis, Chief Executive Officer of NewAge, commented, “We think it is great for our shareholders to have increased clarity on the total cost of the ARIIX transaction, and to have agreed to terms on the future portion of the consideration, which represents a very attractive premium to the current share price. As a private company operating globally, the audit of ARIIX’s financial statements is taking time to complete, and we feel it is prudent to be thorough and have the audit materially completed before closing. We are on track for closing and our continued diligence indicates that our two powerful companies have a bright future together.”NewAge communicated that it expects to capture approximately $20 million in additional annualized EBITDA in the first 18 months following closing in cost and revenue synergies in the areas of cost of goods sold, manufacturing efficiencies and scale, operational redundancy, cross-pollination of brands, and market and channel expansion. NewAge has already identified more than $10 million in annualized synergies to be implemented this year from the combined group.   Fred Cooper, CEO of ARIIX said, “The strength of our two companies coming together will have significant benefits to all our stakeholders around the globe. We have been working closely with Brent and his team and have identified several key areas within our organizations where we can gain efficiencies and enhance our overall business performance very positively impacting both the top and bottom lines. Historically ARIIX has delivered close to $20 million in EBITDA annually. With the convergence of the two organizations, the anticipated synergies of $20 million, the improved profitability of NewAge now that their retail brands have been sold, and the global organic growth we are experiencing, we believe both our top and bottom line outlook look extremely attractive.”On July 20, 2020, NewAge, Inc., announced the signing of an agreement to acquire ARIIX and four other e-commerce/direct selling companies. The combination is expected to create a company with expected annual revenues of more than $500 million, a blended gross margin of 70%, and expected EBITDA of more than $30 million.About NewAge, Inc. (NASDAQ: NBEV) NewAge is a Colorado-based organic and healthy products company dedicated to inspiring and educating consumers to “Live Healthy.” The Company is an omni-channel distribution company with access to traditional retail, e-commerce, direct-to-consumer, and medical channels across more than 75 countries worldwide when combined with ARIIX. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, ‘Nhanced and others. The Company operates the websites www.newage.com, www.noninewage.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, financial condition, the acquisition of ARIIX, statements about the benefit of the ARIIX transaction, and the extent and duration of COVID-19 on its business. 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.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a2b215e-60e7-4ed3-8df8-079435b71c3dFor investor inquiries about NewAge please contact:NewAge Investor Relations: Riley Timmer Vice President, Investor Relations Tel: 1-801-870-8685 Riley_Timmer@NewAge.comInvestor Relations Counsel: John Mills/Scott Van Winkle ICR – Strategic Communications and Advisory Tel: 1-646-277-1254/1-617-956-6736 newage@icrinc.comNewAge, Inc.: Gregory A. Gould Chief Financial Officer Tel: 1-303-566-3030 Greg_Gould@NewAge.com