New Age Beverages acquires Coco-Libre coconut water brand
New Age Beverages, the Colorado-based all-natural tea and healthy functional beverage company, has acquired Maverick Brands and its flagship coconut water beverages line Coco-Libre.
New Age Beverages, the Colorado-based all-natural tea and healthy functional beverage company, has acquired Maverick Brands and its flagship coconut water beverages line Coco-Libre. The acquisition fills an important gap to complete the company’s functional beverages portfolio and provides an organic coconut water source for some of the company’s planned new products.
The transaction includes a combination of cash and shares of common stock in New Age Beverages in return for 100% of the assets and interests of Maverick Brands and its portfolio of products within the Coco-Libre franchise. Specific terms of the deal were not disclosed, with the final closing of the transaction subject to certain closing conditions.
“This evolution provides Coco-Libre with the necessary resources to fund and scale the next phase of growth,” said Maverick Brands CEO Candace Crawford. “Coco-Libre is now well positioned to build on its momentum through the New Age Beverage’s supply chain, manufacturing, and national DSD network, and we believe Coco-Libre will thrive in the New Age system.”