New Age Beverages Acquires Marley Beverage Co.

Posted On: 4/10/2017

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TAGS: New Age Beverages Corp., Marley Beverage Co. LLC, Marley One Drop RTD coffee, Marley Mellow Mood relaxation drinks

DENVER -- New Age Beverages Corp. said it will acquire the assets of Marley Beverage Co. LLC. The company markets Marley One Drop RTD coffee and Marley Mellow Mood relaxation drinks. Marley Coffee Co. is a separate entity from Marley Beverage Co.

New Age entered into a management agreement in October 2016 to integrate the sales, marketing and distribution of Marley Beverage Co. into its operations. The transaction consists of 2.85 million shares of New Age Beverages Corp. common stock and a potential earn-out based on performance in return for the assets of Marley Beverage Co. Marley reportedly paid $1 million in management fees to the New Age under the terms of the management agreement.

New Age markets functional waters and energy drinks in the U.S. and internationally. The company also acquired Maverick Brands LLC, parent of coconut water brand Coco Libre.

Separately, New Age said it completed a $17.5 million financing in February and is up-listing to the Nasdaq.