CNBC: Marlboro Maker Altria in Talks to Buy Cannabis Company Cronos Group

DENVER, Dec. 3, 2018 /PRNewswire/ — PRESS RELEASE — New Age Beverages Corporation, the Colorado-based healthy lifestyles company focused on becoming a healthy beverage company, has announced the signing of a definitive agreement to acquire Morinda Holdings, Inc., a Utah-based healthy lifestyles and beverage company with operations in more than 60 countries around the world.

Key Highlights:

  • Merger creates the 40th largest non-alcoholic beverage company in the world with $300 million in net revenue, $20 million in adjusted EBITDA, $200 million in assets, no debt, and $40 million in cash and working capital
  • Combination brings a portfolio of healthy beverages, with multi-channel penetration spanning traditional retail, e-commerce and in-home; with a hybrid route-to-market spanning direct-store-delivery (DSD), wholesale and direct-to-consumer
  • Provides New Age’s Health Sciences products and portfolio of CBD-infused beverages immediate access into 60 countries, especially in China and Japan

Interested investors can dial into the conference call to discuss the transaction.

Date: Tuesday,

... read more at: http://www.cannabisbusinesstimes.com/article/marlboro-altria-talks-buy-cronos-group/

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