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SEVEN HILLS, AU - Innovation Beverage Group Ltd (Nasdaq:IBG), an Australian-based beverage company currently valued at $4.11 million in market capitalization, has announced a new partnership with Republic National Distribution Company (RNDC) to distribute its products across six key U.S. states, including California. This strategic move, revealed today, aims to amplify the presence of IBG’s bitters brands in the American market. According to InvestingPro data, the company’s stock has experienced significant volatility, trading at $0.49, down 83% over the past year.
IBG, known for its diverse portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands, has seen its Australian Bitters Company and BITTERTALES brands gain traction in the U.S. The distribution agreement with RNDC will cover California, Oregon, Washington, Hawaii, Arizona, and Michigan. InvestingPro analysis reveals the company faces challenges with weak gross profit margins and cash flow yields. Subscribers can access 5 additional key ProTips and comprehensive financial metrics to better understand IBG’s market position.
The Chairman and Interim CEO of IBG, Sahil Beri, expressed his optimism about the partnership, citing RNDC’s extensive distribution network and expertise as crucial for promoting IBG’s brands in the U.S. market. Beri also highlighted the company’s success in Australia, where it has achieved a 45% market share in cocktail bitters.
RNDC is a prominent player in the U.S. beverage alcohol distribution sector, operating in 39 states and the District of Columbia. With a reputation dating back to before Prohibition, RNDC is recognized for its distribution capabilities in wine and spirits, ranking #46 on Forbes’s list of America’s Top Private Companies.
IBG’s award-winning Australian Bitters Company and BITTERTALES have been recognized at the Los Angeles Spirits Awards, with accolades including Gold and Platinum Medals. The company’s bitters are produced in an FDA and GMP certified facility in Australia and are shipped globally.
The partnership with RNDC represents a significant step for IBG as it seeks to expand its market share in the U.S., building on its success in other territories and partnerships, such as with Coca-Cola Europacific Partners in Australia.
This report is based on a press release statement and presents the facts surrounding the distribution agreement between Innovation Beverage Group and Republic National Distribution Company. With IBG’s next earnings report due on May 5, 2025, investors can access detailed financial analysis and real-time updates through InvestingPro, which currently rates the company’s overall financial health as WEAK with a score of 1.13 out of 5.
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