DENVER, CO , Jan. 11, 2018 (GLOBE NEWSWIRE) -- - CVS Health, a greater than $46 Billion-dollar company with more that 9,700 retail outlets has commenced rollout of XingTea to an initial 3,000 stores
- XingTea, an all-natural and award winning ready-to-drink tea bringing a better-for-you alternative to CVS’ shoppers nationally
New Age Beverages Corporation (NASDAQ: NBEV) the 100% organic, natural, and healthy functional beverage company today announced that the Company has commenced shipment of its XingTea portfolio of ready-to-drink teas to CVS Health nationally starting with an initial rollout to 3,000 pharmacy channel outlets throughout the United States.
New Age Beverages has developed a portfolio of beter-for-you beverages over the past year that includes XingTea, Aspen Pure Probiotic water, Búcha Live (organic) Kombucha, Marley (coffee, relaxation drinks and organic yerba mate), Coco-Libre (coconut waters and sparkling coconut waters), and a number of impending products for the hospital and retail pharmacy channel through their Health Sciences Division including PediaAde, ‘Nhanced Recovery (Recovery After Surgery Beverage), and others.
New Age has recently been rapidly expanding some of the newer entrants of its portfolio including Marley Mate, Aspen Pure Probiotic and Coco-Libre Sparkling. The Company has also however, significantly strengthened its core brands at the same time with improved formulas, reduced cost of goods sold and value-engineered production and packaging, new sourcing and manufacturing, and significantly increased marketing, merchandising and in-store support. As a result, XingTea, one of New Age’s largest brands, recently posted volume growth of 18% and 12% in November and December respectively versus prior year.
XingTea® which placed 1st out of 250 competitive entrants in the North American tea competition and 3rd in the 2017 Global Tea competition, recently began expansion in 7 Eleven and other retailers, as retailers increasing look to improve their margins and offer healthier alternatives than other low-margin, pre-priced, high fructose corn syrup laden competitors. In contrast, XingTea® is made with only all natural ingredients, is sweetened with honey and pure cane sugar, and has no GMO’s and no HFCS.
Terry Sperstad, Senior Vice President of Key Accounts for New Age, and a former senior sales executive with both The Coca-Cola Company and Red Bull commented, “We are so excited about this expansion of one of our major core businesses with a great quality retailer like CVS. We know this is just a starting point both in terms of distribution of XingTea, but also for the expansion of the entire New Age portfolio of healthy functional beverages. Both CVS Health and New Age are genuinely committed to helping people on their path to better health, and we are delighted to be bring these better-for-you beverage alternatives to CVS’ shoppers in every corner of the US.”
About New Age Beverages Corporation (NASDAQ: NBEV)
New Age Beverages Corporation is a Colorado-based, 100% organic, natural and healthy functional beverage company that was created in 2016 and 2017 with the combination of Búcha Live Kombucha, XingTea, Coco-Libre, and Marley, to create a one-stop-shop solution for retailers and distributors providing healthier beverages in the disruptive growth segments of the $870 Billion-dollar non-alcoholic beverage industry. In that period, New Age has become the 54th largest beverage company, the 8th largest healthy beverage company, and the fastest growing. New Age competes Ready to Drink (RTD) Tea, RTD Coffee, Kombucha, Energy Drinks, Relaxation Drinks, Coconut Waters, Functional Waters, and Rehydration Beverages with the brands Búcha Live Kombucha, XingTea, XingEnergy, Marley One Drop, Marley Mellow Mood, Marley Mate, Marley Cold Brew, Coco-Libre, PediaAde, and Aspen Pure PH and Aspen Pure Probiotic Water. The Company’s brands are sold across all 50 states within the US and in more than 10 countries internationally across all channels via direct and store door distribution systems. The company operates the websites www.newagebev.com, www.newagehealth.us, www.mybucha.com, www.xingtea.com, www.aspenpure.com, www.drinkmarley.com, www.cocolibre.com, and https://shop.newagebev.com.
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Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to 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 current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company including statements regarding New Age Beverage’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 that 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. New Age Beverages competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission might affect the Company’s operations. Unless required by applicable law, NBEV undertakes no obligation to update or revise any forward-looking statements.