If this stock was well known this Advantage Solutions partnership with New Age Bev would have gapped the stock higher. This is big; strong news for the company.
"Joel Turner, Director of Sales for Advantage Solutions, commented, "We partnered with New Age because of their full portfolio of healthy beverages that we know retailers and consumers are gravitating to more and more. New Age's one-stop-shop approach makes it very efficient for us to work with them, and the response from retailers to their entire portfolio has been tremendous. Their new brands are innovative and on trend and we see nothing but upside as we work with their team to expand the depth and breadth of New Age with major retailers across the US."
"New Age has been expanding key account penetration as a key priority since it was formed last year. The Company started out with less than 20,000 key accounts in 2016 in mostly the Western United States. Since that time, the firm has added more than 10 of the top 100 global grocery, mass, club and convenience retailers into its mix, including 7 Eleven, Circle K, H-E-B, Jumbo, BJ's Wholesale, Ahold Delhaize, Loblaw's, Sobeys and others.
Michael Cunningham, New Age's SVP of Sales, commented, "Advantage Solutions is a world class partner with embedded resources in all markets in virtually all accounts across all channels. We partnered with them because of their extensive reach, quality reputation, and the nearly 800 associates working on sales of the New Age portfolio. In September alone, New Age added 10,047 new points of distribution, many of which Advantage Solutions partnered with us to gain. None of the impact from those accounts is in our Q3 numbers, but the benefit will be seen in Q4 and beyond. We have just scratched the surface in our national key account penetration, and we know that our portfolio is bang on for retailers and consumers as they increasingly switch to healthier choices."
Since uplisting to the NASDAQ exchange in Q1 2017, New Age has completed a number of additional acquisitions, significantly strengthened its financial platform, and established a brand portfolio competing all in the growth categories of the beverage industry. The Company's one-stop-shop strategy of providing a portfolio of healthy functional beverage brands for retailers and distributors has led to New Age becoming one of the top 10 healthy beverage companies in the world. On its newly acquired brand platforms, New Age has developed Marley Mate, a yerba mate beverage; PediaAde, a children's rehydration beverage; and Aspen Pure Probiotic, the world's first probiotic water. New Age is rolling these products out now and is also launching innovative new offerings under its Xing and Coco-Libre brands in the 4th quarter. Significant investments have been made behind these initiatives in Q3 that are expected to contribute to above expectations performance on a full year basis in 2017 and provide a larger base from which to drive further growth in 2018."
