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New Age Beverage inks deal with Walmart to sell Marley brand drinks in stores; shares jump

The brand includes Marley Mate caffeinated tea and Marley Cold Brew
Marley Mellow Mood
The drinks will be available at Walmart beginning in April

New Age Beverages Corporation (NASDAQ:NBEV) exploded Monday after the company announced a deal to sell its Marley brand drinks at Walmart Inc (NYSE:WMT).

The stock skyrocketed more than 38% to close at $6.63.

The wellness-focused beverage company acquired the Bob Marley-based brand in 2017, which includes Marley Mate, a caffeinated yerba tea, and Marley Cold Brew. In 2018, demand for Marley products increased by 70%.

READ: New Age Beverages rises after drinks company zips past Street's 4Q revenue estimate

The drinks will be available at Walmart beginning in April. Marley Mate comes in three flavors: Be Jammin' Berry, Ya Mon Mint and Jamaican Me Mango.

"This is such a great accomplishment for New Age,” Vice President of Key Accounts Craig Thibodeau said. “This is just the first initiative that we expect to do with [Walmart] on the Marley brand and other New Age products on which we are in active discussions.”

The Denver, Colorado-based company is also planning to launch a cannabidiol infused version of its Marley Mellow Mood teas late this year.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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New Age Beverages Corp. Timeline

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