Welcome to our dedicated page for Flow Beverage news (Ticker: FLWBF), a resource for investors and traders seeking the latest updates and insights on Flow Beverage stock.
Flow Beverage Corp. (FLWBF), associated with the Flow premium water brand, has generated a series of significant news events that reflect both its beverage operations and its evolving financial and legal situation. Company press releases highlight Flow’s positioning as a B-Corp Certified premium water and wellness beverage brand founded in 2014, while also detailing developments in financing, governance, and restructuring.
News coverage includes announcements of secured business purpose loans and a secured convertible loan from NFS Leasing Canada Ltd. and RI Flow LLC, which Flow describes as senior secured lenders and affiliates of an investor group holding more than 10% of its voting rights on a partially diluted basis. These updates explain how the company has sought to address liquidity challenges and invest in working capital, referencing both the Flow brand and the Planet A co-packing business.
Investors following FLWBF will also find news about leadership changes, such as the appointment of a new Chief Financial Officer and the departure of prior executives, as well as board resignations. These governance updates are presented alongside financial results that discuss Flow brand net revenue, consolidated net revenue, gross margin and Adjusted EBITDA, and describe factors such as co-pack contracts and production capacity expansions.
More recently, Flow’s news releases have focused on restructuring and insolvency-related matters. The company announced receipt of demand letters and notices of intention to enforce security from its lenders, followed by a support agreement that contemplates transitioning ownership of its business to those lenders through a structured foreclosure. Subsequent news disclosed a receivership order appointing Richter Inc. as receiver over the business and assets of the company and its subsidiaries, a stay of proceedings, and a planned wind-down of remaining assets and liabilities under the Bankruptcy and Insolvency Act (Canada). The Toronto Stock Exchange’s review of Flow’s listing eligibility and the suspension of trading in its subordinate voting shares are also key topics in recent updates.
This news page allows readers to review these developments in sequence, from operational and financing milestones to governance changes and court-supervised restructuring steps, providing context for the history and current status of Flow Beverage Corp. and the Flow brand.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced the appointment of Patrick Bousquet-Chavanne as the Lead Independent Director and Michael Samoszewski as a director responsible for the Governance, Human Resources and Compensation Committee. Marc Caira has resigned from the Board. Bousquet-Chavanne is the CEO of ESW Americas, while Samoszewski previously served as Chief Marketing Officer at Coca-Cola Canada. These appointments reflect Flow's strategy to enhance governance and leverage expert growth experience in the beverage sector.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has launched its new line of Vitamin-Infused Water in Cherry, Citrus, and Elderberry flavors, available online and at over 100 Fred Meyer locations since June 2022. This healthy alternative contains 120% of the daily Vitamin C requirement and is an excellent source of zinc, while having zero sugar, calories, or preservatives. Supported by social media campaigns, the company aims to capitalize on the growing functional water market. The Canadian launch is expected later in 2022.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced a distribution agreement with WB Canna Co. & Wellness to distribute Flow products in the Caribbean and Central America. This agreement allows Flow’s Alkaline Spring Water and flavored products to be available in up to 25 Caribbean markets and seven Central American markets, enhancing the company’s market presence. Flow, known for its sustainable practices, aims to meet the growing consumer demand for eco-friendly products in these regions, especially in hospitality sectors mandated to reduce plastic usage.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced its official sponsorship of Pride Toronto and will engage in events promoting sustainability and healthy choices throughout June. The company will participate in the Pride Parade from June 24-26 and donate water to local crisis centers. Additionally, for every 12-pack of flavoured Flow sold in June, Flow will contribute
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has launched 1-liter formats of its popular Strawberry Rose and Peach Blueberry flavors. The products are available at Sprouts Farmers Market and online. This introduction responds to customer demand for larger beverage sizes. The company has collaborated with Sprouts since 2019, highlighting their retail partnership. Flow Beverage is focused on sustainable practices, offering premium alkaline spring water in eco-friendly packaging, and operates in over 35,600 stores across North America.
Flow Beverage Corp (FLWBF) revised its net revenue growth target for FY 2022 to 25% - 30% from an initial 45% - 55%. Despite this adjustment, it maintains a target of 45% - 50% reduction in EBITDA loss for FY 2022. The brand captured 45% market share in the U.S. carton format shelf stable water segment, up from 38% a year earlier. Notable partnerships with Norwegian Cruise Line and Accor were established, enhancing distribution. In Q2 2022, net revenue was $9.0 million, down from $11.3 million in Q2 2021, with an EBITDA loss of $8.5 million, a 49% improvement year-over-year.
Flow Beverage Corp. (OTCQX: FLWBF) has partnered with Norwegian Cruise Line (NYSE: NCLH) to become its official water supplier, marking a strategic move into the food service sector. Flow's CEO, Nicholas Reichenbach, expressed enthusiasm for the collaboration, highlighting its importance for growth. Further details regarding the product launch will be disclosed in a forthcoming announcement. Flow aims to reduce environmental impact with 100% recyclable packaging while offering a diversified line of alkaline spring water products.
Flow Beverage Corp. (OTCQX:FLWBF) announced its participation in Oppenheimer’s 22nd Annual Consumer Conference, scheduled for June 15, 2022. Nicholas Reichenbach, founder and CEO, will present at 9 AM ET. The event will be held virtually, and the presentation can be accessed here. Flow is a rapidly growing premium water company committed to sustainability.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) announced that Maurizio Patarnello will step down as CEO effective June 1, 2022, to focus on family in Europe. Nicholas Reichenbach, the founder and Executive Chairman, will take over as CEO, ensuring continuity of strategy. Patarnello will serve as Strategic Advisor to support future initiatives. Under Patarnello's leadership, Flow has grown rapidly, reaching over 30,500 retail outlets in North America and achieving significant sustainability milestones, including the reduction of single-use plastic bottles.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) will announce its financial results for the three and six months ending April 30, 2022, on June 14, 2022, before market opening. A conference call and webcast will be held on the same day at 9:00 a.m. ET to discuss the results and provide a business outlook. Flow is recognized as one of North America's fastest-growing premium water brands, promoting sustainability through recyclable packaging and a commitment to wellness.
FAQ
What is the current stock price of Flow Beverage (FLWBF)?
What is the market cap of Flow Beverage (FLWBF)?
