David Vanderveen Joins Newage as Chief Operating Officer

DENVER, Jan. 13, 2020 (GLOBE NEWSWIRE) -- NewAge Beverages Corporation (Nasdaq: NBEV), the Colorado-based healthy products company, today announced that David Vanderveen has joined NewAge as the newly appointed chief operating officer effective immediately.

David Vanderveen has been an accomplished industry leader in the Direct Selling industry for over 20 years. He was the founder and chief executive officer of XS Energy, a portfolio of energy drinks and sports nutrition products, which he sold to Amway in 2015 and became Amway’s fastest growing brand and category in their portfolio worldwide with annual sales of almost $500 million. Since the sale of XS Energy, he has been operating as a senior executive within Amway leading the expansion of the brand to more than 60 countries. Mr. Vanderveen commented, “partnering with a world class company like Amway and their business owners has been a highlight and an incredibly enriching and rewarding experience. We were fortunate to have had such success supporting the growth and development of millions of entrepreneurs around the globe with one of the most innovative functional beverage and sports nutrition brands. Our work together transforming direct selling has been foundational to my view of what’s possible in the new world of brand building.”

Most recently Mr. Vanderveen joined the board of RX3 Ventures and is an investor together with Byron Roth and Nathan Raabe from Roth Capital, and Aaron Rodgers, the quarterback of the Green Bay Packers. RX3 Ventures is a consumer-focused investment fund based in Orange County, California that partners with consumer brands to maximize growth by leveraging its unique network of partners and influencers. RX3 Ventures’ current portfolio companies include Hims, CorePower Yoga, Hydrow, Mack Weldon, Tocaya Organica, Kitu, Privé Revaux and others. Mr. Vanderveen intends to maintain his investment interest in the fund and NewAge may act as a distribution extension arm of RX3 on selected brands in the future.

Mr. Vanderveen is a leading social media presence and influencer in the direct selling industry, known and respected worldwide. He is an accomplished author and speaker with numerous published articles, books, films, and podcasts to his credit. Mr. Vanderveen continued, “NewAge is the next logical step for me, to build on my success with XS Energy, Amway, and my work with RX3 Ventures. I have a shared vision with Brent Willis and his team on how digital and social commerce platforms will transform brand building, and I intend to support the building of NewAge into one of the preeminent omni-channel businesses worldwide.”