US: Reed's expands presence with Great Atlantic deal
US soft drinks company Reed's Inc has expanded the distribution of its Virgil and Reed's brands in the US.
The beverage company has signed a deal with The Great Atlantic & Pacific Tea Company to supply the brands in around 300 of its stores throughout the northeast and mid-Atlantic region.
The brands will appear in all A&P, Waldbaum's, A&P Super Foodmart, The Food Emporium and Super Fresh stores, Reed's announced today (24 September).
Christopher Reed, founder chairman and CEO of Reed's said: "A&P opens up distribution throughout the greater Metro New York and mid-Atlantic markets. Reed's and Virgil's will gain exposure to millions of new consumers, many of whom, being mainstream grocery shoppers, have not yet been exposed to our premium soda products.
He added: "This is a great opportunity to expand our reach and brand awareness within mainstream, which is great for our company and great for our stakeholders."
Reed's last month posted rising losses as sales slipped in the second quarter.
Net losses for the three months to the end of June climbed to US$873,000 compared to $491,000 for the corresponding quarter a year earlier. Sales dipped, meanwhile, by 8% to $4.2m thanks to a "non-repeat specialty programme" in 2008.
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