New Age Beverages Corp. (NASDAQ:NBEV) shares closed up 4.8% at 1.74 Monday, a broke out within its 52-wk trading range of 0.98 – 3.98 on huge volume. The company has a $161-M market cap.
Tuesday, the stock gaped open and marked 2.99 intra-day settling at 2.74 on the day.
The News: NBEV it has entered into a definitive agreement to acquire ARIIX with 4 additional companies in the e-Commerce and direct selling channels, and the Newco will be a global firm that the company’s announcement estimated its pro forma revenues above $500-M across more than 75 countries. Its Y 2019 revenue was $253, up from $52-M in Y 2018.
New Age Beverages Corporation develops, markets, sells, and distributes healthy liquid dietary supplements and RTD (ready-to-drink) beverages.
The company offers RTD tea, coffee, kombucha, energy drinks, relaxation drinks, coconut waters, functional waters, and rehydration beverages, as well as functional medical beverages.
It provides its products under the Xing Tea, Marley, BÃºcha Live Kombucha, Coco-Libre, Evian, Volvic, Tahitian Noni Juice, TruAge, Aspen Pure, PediaAde, Coco Libre, BioShield, and NHANCED brands.
The company sells its products across 50 states in the United States, and approximately 60 countries internationally through direct-store-delivery systems, brokers and distributors, warehouses, independent product consultants, and e-Commerce sites, as well as through grocery retail, natural food retail, specialty outlets, hypermarkets, club stores, pharmacies, convenience stores, gas stations, and individual independent distributors.
New Age Beverages Corporation was founded in Y 2010 and is HQ’d in Denver, Colorado
Have a healthy day, Keep the Faith!