Reed's Inc. closed the sale of its Los Angeles beverage manufacturing operations, equipment and private label business to California Custom Beverage, an entity owned by its founder Chris Reed, for $1.25 million. Reed's will receive private label royalties for three years and has a three-year co-packing agreement for its glass bottled beverages.
Beverage company Reed's signed multi-year contracts with Owens-Illinois, which will be its exclusive North American glass container supplier, and R.C. Moore, its primary logistics partner. The deals were announced on December 5, 2017.
Reed's Inc. secured a multi-year contract with R.C. Moore as its primary logistics partner for North America to lower raw material handling and delivery costs.
Reed's Inc. signed a multi-year contract naming Owens-Illinois its exclusive glass container supplier. The company expects lower glass costs starting in early 2018.