Canadian-based Flow Beverage Corp. has entered a three-year manufacturing deal with Joyburst Beverages.
The production contract sees Flow Beverages tasked with the annual production of 15 million Joyburst Hydration branded beverages. Manufacturing will take place at Flow Beverage’s production facility in Aurora in Ontario.
Launched in 2022, Joyburst is a “better-for-you” beverage brand. Its portfolio includes naturally caffeinated energy drinks, energy stick packs and the Joyburst hydration beverage.
“Joyburst is developing a very unique offering in the enhanced hydration market and we are delighted they have chosen to work with Flow to get Joyburst Hydration Tetra Paks in the hands of consumers across North America,” Flow Beverage CEO Nicholas Reichenbach said.
“Our Aurora production facility is ideally suited to help Joyburst reach its production goals and has the expansion potential to grow alongside our partners. This manufacturing agreement also helps Flow unlock value in relation to our Aurora production facility which, as previously disclosed, is currently in the process of being divested.”
Launched in 2014, Flow Beverage produces an “eco-friendly” carton packaged premium water product which is now available in roughly 46,000 locations across North America. Over the last year, the company has been expanding its presence in America via distribution deals, adding 10,000 stores since July.
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By GlobalDataIn January, Flow Beverage announced an internal restructuring as the group strives to reach profitability and accelerate towards an “asset light operating model”.
The alkaline spring water company reduced its workforce as it shut down a production facility in Virginia and enacted a plan to “further optimise the company’s operations” with an internal restructure, thought to save the group roughly C$17m.
In its most recent financial results for the nine months ended 31 July 2023, Flow Beverages posted a net revenue of C$37.6m ($27.4m) However, due to high cost of goods and operating expenses the group reported a net loss of C$29.3m.
Last year, Flow Beverage announced it would be winding down and selling all of its assets connected to its production facility located in Verona, Virginia. The plant was sold to BioSteel Sports Nutrition. The two companies entered an agreement to continue production of Flow Beverage’s carton water at the facility.
