Flow Beverage Corp. Expands Manufacturing Agreement with BeatBox
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Minimum total revenue under contract increased to
$213 million , from$115 million - Flow to add two production lines at its Aurora production facility
Due to the increased production capacity requirements, over the next 12 months, Flow expects to add two production lines at its Aurora production facility. This expansion is to satisfy the increased demand for co-manufacturing from BeatBox, in addition to other co-manufacturing agreements recently announced and to accommodate anticipated growth in the Flow brand.
In connection with having amended the Agreement, BeatBox and Flow entered into a binding subscription agreement whereby BeatBox has irrevocably committed to purchase from Flow, at a date not later than
“We are thrilled to be expanding our relationship with BeatBox by helping them scale in a sustainable way. Our co-pack operation has achieved a number of milestones in the past year, which include welcoming new partners, adding a fourth production line and upgrading the Aurora production facility to produce alcoholic beverages. As a result, we are well positioned to meet our profitability and cash flow goals for fiscal 2024 and, most importantly, doing it in a way that aligns with our environmental and socially conscious values,” said
Founded in 2012, BeatBox is now one of the top-growing and top-selling ready-to-drink (RTD) alcohol brands in
“As we continue our industry-leading growth, we are excited to expand our partnership with Flow, securing our capacity needs well into the future, and doing so with a partner that shares our commitment to environmental and social responsibility. Our mission is to make the world more fun while doing right by our people and the planet, and this milestone is a significant step towards achieving that,” says Co-Founder and CEO of BeatBox,
About Flow
Flow is one of the fastest-growing premium water companies in
For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.
About BeatBox
BeatBox is the "Original Party Punch", offering fun and nostalgic flavors in a sustainable and resealable package. With a deep passion for live music, its community of super fans, and creating fun, BeatBox has become the brand that’s bringing the party to the alcohol industry.
The journey began in 2012 in the live music capital of the world,
BeatBox quickly built a team of beverage leaders helping to define a new category of "Party Punch." BeatBox has an impressive roster of investors from the music and entertainment industry, including
BeatBox has become one of the fastest growing brands in the alcohol industry and the drink of choice for Millennial and Gen Z drinkers. Its passion for music, and connection to its consumers, has also made it the fastest growing and most engaged alcohol brand on social media. Like Mark said, “This is a company that sells fun, and if anyone ever asks what this brand is all about, tell them that "BeatBox Brings the Party!"
For more information on BeatBox, please visit BeatBox’s website at: beatboxbeverages.com.
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws (“Forward-Looking Statements”). The Forward-Looking Statements contained in this press release relate to future events or Flow’s future plans, operations, strategy, performance or financial position and are based on Flow’s current expectations, estimates, projections, beliefs and assumptions. Such Forward-Looking Statements have been made by Flow in light of the information available to it at the time the statements were made and reflect its experience and perception of historical trends. All statements and information other than historical fact may be forward‐looking statements. Such Forward‐Looking Statements are often, but not always, identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “expect”, “believe”, “anticipate”, “estimate”, “will”, “potential”, “proposed” and other similar words and expressions.
Forward-Looking Statements are based on certain expectations and assumptions and are subject to known and unknown risks and uncertainties and other factors, many of which are beyond Flow’s control, that could cause actual events, results, performance and achievements to differ materially from those anticipated in these Forward-Looking Statements. Forward-Looking Statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-Looking Statements should not be read as guarantees of future performance or results. Readers are cautioned not to place undue reliance on these Forward-Looking Statements, which speak only as of the date of this press release. Unless otherwise noted or the context otherwise indicates, the Forward-Looking Statements contained herein are provided as of the date hereof, and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any Forward-Looking Statements as a result of new information or future events, or for any other reason.
The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and consolidated financial statements and notes thereto as at and for the three- and six-months ended
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