U.S. healthy functional beverage company New Age Beverages Corporation announced that it has merged with peer Morinda Holdings, Inc.
The consideration for the deal was $85 million, consisting of $75 million in cash and $10 million in New Age common stock.
The combination creates one of the largest healthy beverage companies in the world with $300 million in net revenue, $200 million in assets and over $40 million in working capital.
The new global company will be headquartered in Denver, Colorado with major operations in Shanghai, Tokyo, Taipei, Stockholm, Munich, Utah, and more than 20 other countries.