TORONTO--(BUSINESS WIRE)--Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) (“Flow” or the “Company”) today announced that it has signed a distribution agreement with Foodbuy Foodservice (“Foodbuy”), whereby Flow Alkaline Spring Water will become available to purchase in over 11,000 new points of distribution throughout the hospitality and leisure, foodservice and restaurant, gaming and casino, country club, healthcare and education sectors. This distribution agreement represents another strategic milestone in Flow’s growing foodservice business, which also includes recent contracts with Accor hospitality group and Norwegian Cruise Lines Holdings Ltd.
Foodbuy Foodservice is a division of Foodbuy, LLC - the largest foodservice procurement and supply chain solutions organization in North America. Foodbuy offers procurement, distribution management, purchasing optimization, culinary solution consulting, eProcurement and audit services to a range of businesses, including hospitality, restaurants and hotels, care homes and education establishments.
Flow’s founder and CEO, Nicholas Reichenbach, said, “We are delighted to add Foodbuy as a distribution partner in food service, a very important sector which we believe will lead to significant growth for Flow. Sales in food service not only adds to our topline, but it promotes trial and is an enabler of growth in other segments such as retail and e-commerce. To this end, the Flow team has made tremendous progress building our food service distribution network with elite organizations such as Foodbuy. For Flow, this distribution agreement leverages Foodbuy’s large network of consumers in the United States that currently do not have access to Flow products and diversifies our distribution capabilities with an organization that shares our vision and values.”
Foodbuy Foodservice is a division of Foodbuy, LLC - the largest foodservice procurement and supply chain solutions organization in North America and the sole sourcing partner for its parent company, Compass Group North America. Foodbuy manages more than $26 billion in purchasing volume, giving them an industry-leading edge when negotiating contracts for Compass Group and Foodbuy Members.
Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, collagen-infused and vitamin-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to “bring wellness to the world through the positive power of water.” Flow beverage products are available online at flowhydration.com and are sold at over 36,000 stores across North America.
For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. 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 are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavorable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.