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NewAge, Inc. (NASDAQ: NBEV) has announced the release of its financial results for the third quarter ending September 30, 2020, set for November 9, 2020, before market opening. A conference call will follow at 8:00 a.m. Eastern Time allowing listeners to engage with management during a Q&A session. Interested parties are encouraged to register early due to high demand. NewAge specializes in organic and healthy products, utilizing multiple channels including retail and e-commerce, and operates in over 75 countries. The company’s portfolio focuses on Health & Wellness, among other categories.
NewAge, Inc. (NASDAQ: NBEV) expanded its portfolio by adding ZenWTR, a highly sought-after brand, under its DSD Division. The company anticipates double-digit organic growth for 2020 compared to 2019, despite challenges from COVID-19. NewAge acquired exclusive distribution rights for ZenWTR, which is made from 100% recycled ocean-bound plastic and offers superior hydration. The DSD Division, one of the largest independent distributors in the U.S., is seeing record performance and monthly sales growth, solidifying NewAge's market position.
NewAge, Inc. (NASDAQ: NBEV) has expanded its operations to Brazil, enhancing its presence in one of the largest direct selling markets globally. Following the announced merger with ARIIX, the company aims for synergy-driven growth with pro forma revenues exceeding $500 million and over $20 million in identified cost synergies. Brazil, featuring over 3.8 million representatives and annual sales of approximately $10 billion, presents significant opportunities for NewAge. The expansion reflects the company’s strategy of leveraging local insights to maximize market potential.
NewAge, Inc. (NASDAQ: NBEV) announced an amendment to its merger agreement with ARIIX, extending the transaction completion deadline to November 30, 2020. The revised terms clarify the total consideration for the acquisition, which is anticipated to bring approximately $20 million in additional annualized EBITDA within the first 18 months due to cost and revenue synergies. The merger aims to create a company with over $500 million in annual revenues and a blended gross margin of 70%. Both companies expect significant benefits from the consolidation.
NewAge, Inc. (Nasdaq: NBEV) reported Q2 2020 net revenue of $62.6 million, down from $66.3 million year-over-year, influenced by COVID-19 in Asia. In contrast, U.S. revenue grew 13%, with DSD Division up nearly 30% in June. The pending merger with ARIIX is projected to double the company's size, targeting annual revenues over $500 million and generating significant cost savings exceeding $20 million. Gross margin was 61%, impacted by a mix of lower-margin products. The net loss was reduced to $9.6 million from $11.7 million in Q2 2019. Cash increased 48% to $40.7 million at quarter-end.
NewAge, Inc. (Nasdaq: NBEV) will release its Q2 financial results on August 10, 2020, before market opening.
A conference call will follow at 8:00 a.m. ET for investors with details from management and a Q&A session. Interested parties can join by dialing 1-877-407-3982 (toll-free) or 1-201-493-6780 (international). This event will also be available via webcast and can be replayed for 45 days. NewAge is on track to close its merger with ARIIX and other companies, positioning itself for a broader market footprint.
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New Age Beverages Corporation (Nasdaq: NBEV) has announced a definitive agreement to acquire ARIIX and four other companies in the e-commerce and direct selling sectors. This merger is expected to create a global enterprise with pro forma revenues exceeding $500 million across over 75 countries. The combined company aims to leverage its omni-channel strategy, which focuses on online sales and direct-to-consumer fulfillment. Key highlights include enhanced market access, improved cash flow, and a strengthened portfolio of health-focused products.
New Age Beverages Corporation (NBEV), based in Colorado, announced its participation in the Jefferies Virtual Consumer Conference on June 23-24, 2020. The company's presentation is scheduled for June 23 at 6:30 a.m. MT/8:30 a.m. ET, and will be available via webcast on their website. The presentation will be archived for approximately 30 days. New Age focuses on healthy products, offering a portfolio that includes brands like Tahitian Noni and Búcha Live Kombucha, and operates in over 60 countries.