NuZee (NASDAQ:NUZE) shares are up in double digits today after the specialty coffee maker entered into a five-year global licensing deal with Stone Brewing. The latter is the seventh-biggest craft brewery in the U.S., with sales in more than 40 countries.
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Under the deal, NuZee plans to co-manufacture and distribute Stone Brewing’s offerings across the U.S. via multiple channels. These include grocery, convenience stores, offices, as well as hotel brokers and distributors.
Importantly, the company also plans to set up a direct-to-consumer operation, providing specialty coffee to craft beverage customers worldwide via a dedicated website.
Despite today’s price gains, NuZee shares are still down nearly 70% over the past year.
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