Flow water tsx series#
Last year, Flow raised $45 million in a Series D funding round that included backing from celebrity investors including rapper Post Malone, Shawn Mendes and MLB champion Chase Utley.
Reichenbach said that Flow expects to produce over 100 million units this year. Through those facilities, the company also operates its subsidiary Planet A Co-Packing Solutions which produces products for companies including Vita Coco and Orro among others. The company grew sales 44% last year to over $25 million and ecommerce sales increased over 200% to represent over 20% of Flow’s total sales.Īccording to Reichebach, Flow owns over $100 million in assets, including two artesian springs - one in Canada and another in Virginia. Earlier this month, Flow chief revenue officer Tim Dwyer told BevNET that the company aims to have 65% ACV in the grocery channel by next year. Points of distribution have increased roughly 75% over the last three months. and Canada, with much of its sales coming in the natural and specialty channels. And that’s what going public is to me as an entrepreneur.”įlow founder and CEO Nicholas Reichenbachįlow is currently available in over 30,000 doors in the U.S. It’s a very rare thing in this industry - it’s a unicorn for sure - where you can take a company and have a long term 10-20 year vision on it. “I intend to stay till the very end,” he said. The move will also allow him to stay on as CEO for the foreseeable future, he added. “And what that does is it gives a really good platform for companies like Flow to really access institutional growth capital that has a mid to long term view on the company’s growth, which really gives the runway for us to take a incredible leap forward as a company.”īy going public, Reichenbach said Flow could potentially achieve a 5-to-7.5x investment multiple, versus a 1.5-3.5x multiple through a more common private equity-to-exit strategy. “ when you started to see healthy institutional capital come into the market with a 10 to 15 year hold,” Reichenbach said. He noted that Flow’s focus on environmental sustainability (the drinks are packaged in Tetra-Pak containers) positions it as a high-growth, better-for-you brand. The Canaccord Genuity team included Brian Bacal, Brian Hurley and Jack Xia from Investment Banking.Reichenbach said the company was inspired to take the public route after Beyond Meat’s 2019 IPO showed an avenue for better-for-you food and beverage companies on the stock market.
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.Ĭanaccord Genuity acted as financial advisor to Flow with respect to the Loan. 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. Flow has initially drawn $15.3 million pursuant to the Loan and has the ability, subject to certain conditions, to draw an additional $5.0 million prior to the one-year anniversary of the initial draw under the Loan.įlow intends to use the Loan proceeds to repay $9.6 million in unsecured notes, as well as to invest in the growth of the Flow brand, working capital and for general corporate purposes.įlow is one of the fastest-growing premium water companies in North America. (TSX: FLOW) ("Flow"), announced that it has entered into a senior secured term loan (the "Loan") of up to $20.3 million. on its $20 Million Senior Secured Debt FacilityĬanaccord Genuity is pleased to announce that on January 3, 2023, its client, Flow Beverage Corp. Canaccord Genuity Acts as Financial Advisor to Flow Beverage Corp.
0 kommentar(er)
