New Age Beverages is expanding its distribution deal with retail giant Walmart on its line of CBD-infused Bob Marley-themed drinks.
New Age’s agreement with Walmart is the beverage maker’s first national distribution deal. It is also in talks with Walmart for drinks in addition Marley Mate brand. Soon after Marley Mate brand of beverages burst onto the scene, it experienced a 70% surge in demand around 2018.
New Age seems to be yet another beverage player looking to leverage the growing consumer preference for healthier beverages.
"We know Walmart is equally as committed as New Age to providing healthier products for their customers, and we expect to make the full portfolio of New Age's better-for-you products available as we expand the relationship," New Age vice president of key accounts, Craig Thibodeau said.
Shares of the beverage maker jumped +12% on the announcement.