National Beverage (FIZZ)

National Beverage is distinctive because it owns a mix of legacy soda labels and brands aimed at consumers seeking lower-calorie or functional drink options. LaCroix is positioned in the flavoured sparkling water category, while Rip It competes in energy drinks. The company also sells Everfresh juices and soft drink brands such as Shasta and Faygo, giving it exposure to convenience stores, supermarkets, food-service outlets, and value-oriented beverage buyers.

Unlike many beverage companies that rely heavily on third-party bottlers, National Beverage controls much of its production and distribution network. This vertically integrated model supports manufacturing, packaging, warehousing, and logistics across its brand portfolio. The company uses different routes to market depending on the channel, including warehouse delivery to larger retailers, direct-store delivery for smaller outlets and convenience locations, and distributors for food-service customers such as schools, hospitals, and restaurants.

The company operates in a competitive industry shaped by changing consumer tastes, private-label competition, input costs, and retailer shelf space. Its investment case is closely tied to brand strength, product innovation, and the continued demand for alternatives to traditional sugary soft drinks.