AMASS Brands Group to Acquire Majority Stake in HpO Sparkling Protein Water, Expanding into Functional Hydration

Proposed Transaction Expands AMASS Into One of the Fastest-Growing Segments in Functional Beverages as GLP-1 Adoption Accelerates Consumer Demand

SANTA MARIA, Calif., June 29, 2026 (GLOBE NEWSWIRE) -- AMASS Brands Group (NASDAQ: AMSS) (“AMASS” or “the Company”), a premium, multi-category beverage platform spanning non-alcohol, functional, and alcohol 2.0 products, today announced the planned acquisition of a majority stake in HpO, a sparkling protein water brand delivering 5g of plant-based protein per can with zero sugar, clean-label ingredients, and real fruit flavor. The transaction adds a high-growth functional hydration asset to the AMASS portfolio, capturing two of the most powerful macro trends reshaping the U.S. beverage market simultaneously: protein consumption and premium hydration.

HpO delivers 5g of complete-amino-acid plant protein per can, with zero sugar, no artificial sweeteners, no additives, and approximately 22 to 30 calories per serving. HPO is positioned as an upgraded sparkling water with a light boost of protein to easily fit into consumers' everyday water consumption, versus more protein-heavy competitors. The brand's lineup includes Lemon and Blood Orange flavors, with additional product innovation planned across both ready-to-drink and adjacent hydration formats.

The U.S. protein water market, valued at approximately $861 million in 2024, is projected to nearly double to $1.96 billion by 2034, with the sparkling segment expanding at a compound annual growth rate of 12 to 14 percent.^1,2 That growth is being accelerated by the widespread adoption of GLP-1 medications, with approximately one in eight U.S. adults currently taking a drug such as Ozempic or Wegovy³ and households with at least one GLP-1 user projected to represent 35 percent of all U.S. food and beverage units sold by 2030.⁴ GLP-1 users are shifting decisively toward high-protein, low-sugar, nutrient-dense beverages, driven by a clinical need to preserve muscle mass within a significantly reduced caloric intake, and HpO is purpose-built for exactly that consumer.

"Protein consumption is accelerating across every consumer demographic, and the widespread adoption of GLP-1 medications is only intensifying that demand," said Mark Thomas Lynn, Founder and Chief Executive Officer of AMASS. "HpO sits at the convergence of these powerful forces, and it is exactly the kind of brand we have been building toward. Clean label, plant-based, zero sugar, and built for everyday consumption rather than the sporadic post-workout occasion."

Lynn continued, "This transaction reflects the same discipline that has driven every move we have made as a platform. We identify categories where consumer behavior is changing structurally, we find the brand best positioned to lead, and we bring the distribution muscle and operational expertise to scale it. HpO gives AMASS another meaningful stake in functional hydration, following our launch of AMASS Electrolyte Mixers last month, at exactly the right time."

AMASS intends to support HpO's growth through its existing wholesale distribution infrastructure, category expertise, and retail relationships, including its national presence across leading natural, specialty, and premium retail channels, to accelerate distribution, increase consumer awareness, and expand the brand's reach nationwide. The HpO acquisition follows AMASS's recent SAFE investment in Afterdream, a hemp-derived THC microdose beverage brand, reflecting the Company's strategy of securing early positions in functional and emerging-beverage categories ahead of mainstream adoption. Taken together, the two transactions reinforce AMASS's strategy of building a diversified portfolio of brands aligned with emerging consumer behaviors and category shifts across the broader beverage landscape.

Under the terms of the proposed transaction, AMASS, which currently holds an approximately 15 percent ownership interest in HpO, will acquire an additional controlling interest, bringing its total ownership to approximately 50.0001 percent on a fully diluted basis. Consideration for the transaction will be paid in shares of AMASS common stock, valued at the trailing 21-day volume-weighted average price of AMASS common stock as of the closing date. AMASS will also hold a three-year option to acquire the remaining interest in HpO at a purchase price equal to two times revenue, providing a defined pathway to full consolidation. The transaction is subject to the execution of definitive agreements and customary closing conditions. Additional terms were not disclosed.

About AMASS Brands Group

AMASS Brands Group (Nasdaq: AMSS) is a next-generation beverage platform built around the brands defining how modern consumers drink — and increasingly, how they don’t. The company’s portfolio spans non-alcohol, functional, and alcohol 2.0 categories, with standout brands across each: Good Twin Non-Alcoholic Wine, the #1 organic non-alcoholic wine brand in the U.S. and one of the fastest-growing in the category; AMASS Electrolyte Mixer, a functional disruptor redefining the mixer category; and Summer Water Rosé, the zero-sugar, #1 selling premium domestic rosé in the U.S. — among others across the portfolio. As moderation trends accelerate, AMASS is positioned to benefit structurally rather than reactively — with margin discipline, cohesive brand architecture, and the multi-brand scalability that supports the Company’s long-term growth strategy.

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¹ Precedence Research, Protein Water Market Size, Growth, Share & Analysis Report, April 2026. Available at: precedenceresearch.com/protein-water-market
² Data Horizzon Research, Sparkling Protein Water Market Size, Growth, Share & Analysis Report, 2033. Available at: datahorizzonresearch.com/sparkling-protein-water-market-34641
³ KFF Health Tracking Poll, November 2024. Available at: kff.org
⁴ Circana, GLP-1 Consumer Spending Report, November 2025, as reported by Food Dive. Available at: fooddive.com/news/glp1s-weight-loss-food-beverage-sales-2030/806415

Safe Harbor Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the Company's expectations, beliefs, plans, intentions, strategies, prospects, future growth opportunities, anticipated market trends, and future operating performance. These forward-looking statements include, without limitation the anticipated completion and expected benefits of the proposed acquisition of HpO, the anticipated growth of the functional hydration and protein water categories, the Company’s ability to consummate the transaction and satisfy the conditions to closing, the Company’s ability to scale HpO’s commercial reach through its existing distribution infrastructure and retail relationships, and the long-term consumer demand trends supporting the functional beverage market. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations. These statements are subject to uncertainties and risks including, but not limited to, the risk that the proposed transaction may not be completed on the terms described or at all, uncertainties related to the negotiation and execution of definitive agreements, the satisfaction of customary closing conditions, market conditions, competitive conditions within the beverage industry, changing consumer preferences, the Company’s ability to successfully integrate acquired brands and execute its growth strategy, and the other factors discussed in the "Risk Factors" section of the Company’s filings with the Securities and Exchange Commission ("SEC"). Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. Forward-looking statements speak only as of the date made, and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as required by applicable law. Investors are cautioned not to place undue reliance upon these forward-looking statements.

Investor Relations Contact
KCSA Strategic Communications
Rob Kelly, Vice President
(212) 896-1254
AMASS@KCSA.com

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