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New Age Beverages agrees to buy Brands Within Reach

Organic beverages producer New Age Beverages Corp. on June 3 signed a definitive agreement to acquire food and beverage company Brands Within Reach LLC.

Under the agreement, New Age will secure brand licensing and distribution rights to the target company's Nestea, Volvic, Illy Ready to Drink Coffee and Evian brands, among other labels.

Colorado-based New Age expects the deal to improve its sales and distribution expertise in North America to grow the combined portfolio of both companies. The acquisition brings New Age's scale to more than $320 million.

Financial terms of the deal were not disclosed.