Reed's, Inc.

Reed's, Inc.
Public
Traded as NYSE MKT: REED
Industry Beverages - Soft Drinks
Founded 1989
Founder Chris Reed
Headquarters Los Angeles, California
Area served
 North America
Key people
 Chris Reed
(CEO, Chairman, Founder, President)
David Williams
( Interim CFO and Principal Accounting Officer)
Thierry Foucat
(COO)
Neal Cohane
(Sr. VP of Sales)
Revenue Increase US$30.007 Million (FY 2012)[1]
Increase US$136,000 (FY 2012)[1]
Increase US$524,000 (FY 2012)[1]
Total assets Increase US$13.836 Million (FY 2012)[1]
Total equity Decrease US$4.098 Million (FY 2012)[1]
Number of employees
 61(Mar 2012)[1]
Website Reedsinc.com

Reed's, Inc. manufactures brewed sodas including Reed's Ginger Brews, Virgil's Root Beer, and Reed's Culture Club Kombucha. Founded by Christopher J. Reed, the company is located in Los Angeles, California. CEO Christopher Reed and his wife Judy Reed own 19.3% of all outstanding shares, and family member Robert Reed owns 6.4% of outstanding shares in an irrevocable trust.[2] Reed's also owns China Cola and Sonoma Sparklers. In 2009, Reed's Inc. began creating soda for its private label initiative, which brought in $5 million in revenue in 2012.[3] Reed's line created Reed's Nausea Relief under the Reed's RX line, Reed's Natural Energy Elixir, Reed's Ginger Ice Cream, Reed's Ugly Ginger Candy, and Reed's Ginger Potatoes.

Chris Reed crafted his first ginger brew in 1987 after researching century-old soft drink recipes at UCLA's library.[3] Reed's, Inc. claims to have produced the first commercially brewed sodas in the world.[4] Reed's Inc. sells 24 drinks, four candies and three ice cream flavors to approximately 14,000 supermarket and specialty food stores across the U.S.[3] Only 1% of its $30 million in annual sales derived from Asia, Canada, and Europe.[3]

Products

The six Ginger Brew flavors are: Original Ginger, Extra Ginger, Premium Ginger, Raspberry Ginger, Cherry Ginger and Spiced Apple. Reed's Inc. brews its ginger sodas in a microbrew process using filtered sparkling water.[5] The brews contain between 8 and 26 grams of ginger per serving, depending on the product.[5]

Reed's Ginger Brews are made in batches.[5] To read the date a particular batch was brewed, look at the numbers printed directly on the glass at the bottle's neck. At normal room temperature Reed's Ginger brews will last about one and a half years. If kept cold, they will keep much longer.

Reed's, Inc. products are sold in mainstream grocery stores such as Ralphs, Ingles, Kroger, Costco, Fred Meyer and others, including drug and sundries stores, but mainly in health food stores and other specialty food stores such as Whole Foods Market, Cost Plus World Market and Trader Joe's.[6]

In the summer of 2012, Reed's Inc. launched a kombucha line that includes four flavors: Goji Ginger, Cranberry Ginger, Lemon Raspberry Ginger and Hibiscus Grapefruit Ginger.[7]

In 2013, Reed's Inc. developed four new kombucha flavors: Pomegranate Ginger, Passion Mango Ginger, Cabernet and Coconut Water Lime.[8]

Notable events

Reed's Spiced Apple Brew has won the "Outstanding Beverage Finalist" at the National Association for the Specialty Food Trade.[9] Reed's Original Ginger Brew has won the "Outstanding Beverage Finalist" from the National Association for the Specialty Food Trade.[9] Reed's Original Ginger Brew has won the "Best Imported Food Product" from the Canadian Fancy Food Association.[9]

Virgil's Root Beer won the "Outstanding Beverage" Award at the International Fancy Food and Confection Show in 1994, 1996 and 1997.[9]

In 2008 Reed's, Inc. was ranked 100th in Beverage Industry magazine’s Top 100 list of the largest beverage companies based on worldwide net sales for U.S. companies and foreign-held companies that have significant sales in the United States.[10]

In March 2010 Reed's agreed to purchase rival Jones Soda[11] but later that month Jones Soda backed out of the deal.[12]

Reed's Inc. was selected by WholeFoods Magazine as the Runner Up Beverage Company in the Natural Choice Awards of 2010 and 2011.[13][14]

Reed's Inc. became profitable for the first time as a public company during the second fiscal quarter ending June 30, 2012.[15]

References

  1. 1 2 3 4 5 6 "Reed's, Inc., Form 10-K, Annual Report, Filing Date March 25, 2013". secdatabase.com. Retrieved April 12, 2013.
  2. ↑ "Amended Annual Report". SEC.gov. Retrieved 22 April 2013.
  3. 1 2 3 4 "Reed's nears profitability amid thirst for healthful drinks". Retrieved 12 April 2013.
  4. ↑ "Reed's Inc Homepage". Reed's Inc. Retrieved 22 April 2013.
  5. 1 2 3 "Reed's Inc.". Reedsgingerbrew.com. Retrieved 17 August 2012.
  6. ↑ "Store Locator". Retrieved 17 August 2012.
  7. ↑ "Reed's, Inc. Announces New Entry Into the Fast-Growing Kombucha Category". Marketwire. Retrieved 17 August 2012.
  8. ↑ "Reed's Inc. Announces the Launch of Four New Flavors of Reed's Culture Club Kombucha". Marketwire. Retrieved 12 April 2013.
  9. 1 2 3 4 "Reed's Inc.". Reedsgingerbrew.com. Retrieved 17 August 2012.
  10. ↑ "REED'S Inc. Investor Relations". Archived from the original on 2009-01-07. Retrieved 17 August 2012.
  11. ↑ Pepitone, Julianne (9 March 2010). "Cult soda maker Jones agrees to sharply discounted takeover". CNNMoney. Retrieved 22 March 2010.
  12. ↑ "Jones Soda Shares Comfortable Above $1.50 Level". Wall St. Nation. June 21, 2010. Retrieved 17 August 2012.
  13. ↑ http://www.wholefoodsmagazine.com/grocery/features/natural-choice-awards-2010
  14. ↑ http://www.wholefoodsmagazine.com/grocery/features/2011-natural-choice-awards 2011
  15. ↑ "Reed's Inc. Reports Second Quarter 2012 First Profitable Quarter". Marketwire. Retrieved 17 August 2012.
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