REED'S Business Summary

Reed’s, Inc. (REED) is a leading manufacturer and distributor of premium, all-natural non-alcoholic beverages, operating through an asset-light business model that leverages third-party co-packers and a centralized logistics network. The company generates revenue primarily through the wholesale distribution of its two core product segments: the Reed’s brand, which dominates the craft ginger beer and ginger ale categories, and Virgil’s, a line of handcrafted, zero-sugar and traditional sodas. As of early 2026, Reed’s has expanded its footprint to over 45,000 retail doors—including major accounts like Costco, Kroger, and Sprouts—while diversifying into functional sodas and international markets in Asia. Within the competitive landscape, Reed’s maintains a niche leadership position in the ginger category, competing directly with premium mixers like Fever-Tree, craft soda peers such as Jones Soda, and health-focused brands like Zevia. Originally founded in 1989 by Christopher Reed, the company is currently undergoing a strategic transformation under a revitalized leadership team. Chief Executive Officer Cyril Wallace, appointed in April 2025, brings over 20 years of experience from PepsiCo, where he managed multi-billion dollar territories. He is supported by Chief Financial Officer Douglas McCurdy, a veteran of early-stage growth scaling, and Chief Operating Officer Neal Cohane, who rejoined the firm in January 2026 following leadership roles at Eastroc Beverages and PepsiCo. The executive suite is further strengthened by Chief Marketing Officer Tina Reejsinghani, formerly of Rémy Cointreau. Governance is anchored by Chairperson Shufen Deng, whose investment vehicle, D&D Source of Life Holding Ltd., remains the company’s majority shareholder and primary financial backer, alongside board members with deep pedigree from global giants like Red Bull and Diageo.