- Flow Beverage (FLOW) has commenced an internal restructuring to optimize operations toward achieving profitable growth
- The company expects a reduction of 80 positions as a result of restructuring and the sale of the Verona production facility
- Flow is a health and wellness-focused beverage company
- Flow Beverage Corp. (FLOW) is down 10.00 per cent, trading at C$0.36 per share at 2:58 pm ET
Flow Beverage (FLOW) has commenced an internal restructuring to optimize operations toward achieving profitable growth.
The company expects a reduction of 80 positions as a result of restructuring and the sale of the Verona production facility.
Flow expects these initiatives to result in annualized cash savings of approximately $17 million once fully implemented. The company also believes it can maintain a high growth trajectory for net revenue from the Flow brand while achieving predictable cost of goods sold, improved gross margins, lower overhead costs and a stronger balance sheet.
As of December 31, 2022, Flow brand products are now in over 46,000 locations across North America. This represents an increase of over 10,000 stores since July 2022. These new locations were added primarily through recent distribution wins in the U.S. food, drug and mass channel.
Flow expects to accelerate expansion in the food service channel through partners like Foodbuy in the U.S. and Starbucks in Canada. It also has a number of commitments from large retail partners to launch Flow vitamin-infused water in the near term.
Flow is a health and wellness-focused beverage company. It markets its premium alkaline spring water in Canada and the U.S. in original unflavoured and a range of organic flavours in various sizes.
Flow Beverage Corp. (FLOW) is down 10.00 per cent, trading at C$0.36 per share at 2:58 pm ET.
