NATIONAL BEVERAGE CORP

National Beverage Corp.

Overview

National Beverage Corp. is a publicly traded company (NASDAQ since 1991) that manufactures and distributes a portfolio of beverages, primarily in the United States with limited international distribution. The company focuses on health-oriented and innovative product development across its Power+ Brands, which include sparkling waters, juices, energy drinks, and carbonated soft drinks.

Product portfolio and brands

• Power+ Brands:
  • LaCroix sparkling water
  • Clear Fruit: non-carbonated water beverages enhanced with fruit flavor
  • Rip It: energy drinks and shots
  • Everfresh, Everfresh Premier Varietals, and Mr. Pure: 100% juice and juice-based products
• Carbonated soft drinks: Shasta and Faygo
• LaCroix is the flagship brand, offered in numerous flavors including PineApple CocoNut, Sunshine, Strawberry Peach, Mojito, Beach Plum, Black Razzberry, Guava São Paulo, and LimonCello
• Other brand notes:
  • Everfresh and Mr. Pure offer a range of juice options
  • Clear Fruit emphasizes clear, non-carbonated fruit-flavored water
  • Rip It includes several Zero Sugar flavor options
  • A Tribute line supports military and first responders

Market focus and reach

• Primary market: United States
• Some products are distributed on a limited basis in other countries; the company is pursuing expansion opportunities

Operations and production

• Vertical integration: the company formulates a substantial portion of its own flavors and concentrates and produces finished beverages in-house
• Facilities:
  • 12 production facilities in 10 states, totaling about two million square feet
  • Owned facilities: 10 located in California (2), Georgia, Kansas, Michigan (2), Ohio, Texas, Utah, and Washington
  • Leased facilities: 2 in Maryland and Florida, with leases expiring through 2035
• Packaging: products manufactured in aluminum cans, glass and plastic bottles, and cartons; multiple package sizes supported
• Research and development: R&D laboratories at multiple locations for product testing, quality control, and flavor development
• Distribution model: hybrid system serving take-home, convenience, and food-service channels
  • Take-home: national and regional grocery stores, club stores, mass-merchandisers, wholesalers, e-commerce, drug stores, dollar stores; distribution via warehouse distribution and some direct-store delivery (DSD)
  • Convenience: direct-store-delivery fleet and independent distributors
  • Food-service: independent distributors supplying hospitals, schools, military bases, hotels, and food-service wholesalers; company-owned DSD to schools and food-service locations
• Promotional tools: vending machines and glass-door coolers at customer sites; in-store displays and promotional activities; “MerchMx” to optimize shelf space and displays

Customers and sales approach

• Serves a diverse customer base, including numerous national retailers and thousands of smaller local accounts
• Sales and marketing:
  • Internal sales force and specialized broker networks
  • Marketing channels include digital and social media, regional events, sponsorships, endorsements, sampling, and cooperative advertising with retailers

Sustainability and corporate responsibility

• All products are produced in the U.S., contributing to a lower carbon footprint relative to imported brands
• Packaging is recyclable; more than 80% of products are sold in aluminum cans with approximately 71% recycled content
• Facilities run programs to reduce water and energy use; ongoing efforts aim to reduce packaging content and overall resource consumption

Workforce and human capital

• As of May 2, 2026: about 1,677 employees
• 378 employees are covered by collective bargaining agreements; existing terms vary over the next several years
• Diversity: approximately 63% of employees identify as persons of color; about 26% identify as female
• Compensation and benefits: a mix of short-term incentive programs and stock-based compensation for long-term incentives; comprehensive health, dental, life, disability, and profit-sharing benefits; emphasis on health and safety in operations

Regulatory and risk context

• Products are subject to federal, state, and local regulations covering production, packaging, labeling, safety, advertising, and environmental compliance
• Potential regulatory areas include beverage taxes, labeling requirements, synthetic dye regulations, and nutrition assistance program considerations
• Cybersecurity: risk management and governance overseen by the Board’s Audit Committee; the company maintains cyber incident response capabilities and related insurance

Key business facts

• Public listing: NASDAQ since 1991
• Employee count: ~1,677 (as of May 2, 2026)
• Production facilities: 12 facilities across 10 states, ~2 million sq ft
• Property status: 10 owned facilities; 2 leased facilities (Maryland and Florida, leases expiring through 2035)
• Core brands and product lines: LaCroix, Clear Fruit, Rip It, Everfresh, Mr. Pure, Shasta, Faygo