Hamilton Beach Brands and Numilk Enter Into Exclusive Multiyear Agreement

Hamilton Beach Brands Holding Company (NYSE: HBB) announced today that its wholly-owned subsidiary Hamilton Beach Brands, Inc., a leader in small kitchen appliances, has entered into an exclusive multiyear agreement with Numilk, to manufacture and sell commercial and consumer appliances for use with Numilk ingredient pouches. The companies are in the product design and engineering phase of a next-generation line of appliances that are expected to launch in early 2024.

“Non-dairy, or plant-based, milks have become increasingly popular, and the sale of such products is fast growing,” said Scott Tidey, senior vice president, global sales, Hamilton Beach Brands. “Globally, sales are approximately $20 billion. We expect U.S. sales to grow approximately 10% annually. We are very excited to collaborate with Numilk to provide the next generation of specialty appliances that consumers and commercial customers can use to make great tasting non-dairy milks on demand.”

“Hamilton Beach Brands has an outstanding reputation for creating high-quality, durable, and innovative small appliances,” said Ari Tolwin, chief executive officer, Numilk.”Their design capabilities, manufacturing relationships, selling and distribution expertise across all retail and commercial channels will enable us to rapidly scale.”

“Numilk pouches produce great tasting non-dairy milks, free of gums, fillers and preservatives,” adds Joe Savino, co-founder, Numilk. “Our collaboration with Hamilton Beach Brands will enable us to expand our global mission of providing fresh non-dairy milks, with a reduced carbon footprint.”

The Numilk system combines raw ingredient pouches with water to create fresh, non-dairy milks, lattes and shakes, at the push of a button. By not shipping the added water content, Numilk benefits the environment by reducing the packaging and shipping waste and emissions associated with traditional prepackaged beverages. For more information about Numilk, please visit numilk.com.

About Hamilton Beach Brands Holding Company
Hamilton Beach Brands Holding Company operates through its wholly owned subsidiary Hamilton Beach Brands, Inc., a leading designer, marketer, and distributor of a wide range of branded small electric household and specialty housewares appliances, as well as commercial products for restaurants, fast food chains, bars, and hotels. The Company’s owned consumer brands include Hamilton Beach®, Proctor Silex®, Hamilton Beach Professional®, Weston®, TrueAir®, Brightline® and Hamilton Beach Health®. The Company’s owned commercial brands include Hamilton Beach Commercial® and Proctor Silex Commercial®. Hamilton Beach Brands licenses the brands for Wolf Gourmet® countertop appliances, CHI® premium garment care products, Clorox® air purifiers, and Brita® countertop water appliances. Through exclusive multiyear agreements, Hamilton Beach Brands designs, sells, markets and distributes the Bartesian® premium cocktail delivery system and the Smart Sharps Bin® from Hamilton Beach Health® powered by HealthBeacon®. For more information about Hamilton Beach Brands Holding Company, visit hamiltonbeachbrands.com.