Mix1 Life Inc. Closes Acquisition of Energy Drink Brand
Company acquires "No Fear" beverage license asset from Shadow Beverages and Snacks LLC
mix1 Life, Inc., announced that the company completed the acquisition of the "No Fear" beverage license asset from Shadow Beverages and Snacks LLC, which includes the "No Fear" beverage license, operating system, and sales support behind its current distribution network. The Company is paying approximately $12.2 million in a combination of restricted common stock, cash, and debt for the license and related assets. The beverage license "No Fear" generated approximately $4.3 million in revenue for the trailing twelve months ended December 31, 2014.
No Fear is an energy drink distributed primarily through a Direct Store Delivery ("DSD") network, which includes many of the independent Pepsi Bottlers. Recently, the brand has expanded nationally in the food service channel through an agreement with a national distributor.
"This acquisition and resulting combination of two nationally recognized brands, 'No Fear' energy drink and our existing 'mix1' protein drink, will significantly increase the size of our addressable target market and improve national expansion opportunities for these brands by leveraging the strengths of both assets", said Cameron Robb, CEO at mix1. "In addition, we will be able to more efficiently leverage our selling and operating systems from the combined entities."
George Martinez, President and Founder of Shadow Beverages, stated, "We are very excited to join the mix1 team and bring our many years of operational, marketing and sales network experience to the Company. We believe the combined experience of the two companies will accelerate the growth of both brands." The expanded mix 1 management team has deep roots in the beverage industry with experience across all functions, including many years of experience expanding major brands through leading distributors and retailers. At the same time. the team has an entrepreneurial spirit that supports a company that is focused on accelerating the growth of its brand partners. The Company understands that the business starts with understanding the demands of its customers, and it is a business that is done one transaction at a time at store level.