Flow and BioSteel Close the Verona Facility Sale
References: prnewswire & flowhydration
Flow Beverage Corp. and BioSteel have finalized the Verona Facility sale and have entered into a strategic co-manufacturing agreement that will benefit both brands. Located in Verona, Virginia, the Verona Facility was purchased for $19.5 million USD. For BioSteel, the purchase entails "a vertical integration in support of [the company's] rapid growth strategy." For Flow, the sale enables the brand to focus on profitable growth while also simplifying the operating structure and improving the balance sheets.
Following the Virginia Facility sale, Flow Beverage Corp. and BioSteel entered into a co-manufacturing agreement that will "support an efficient transition while maximizing facility utilization." The agreement notes that "BioSteel will produce Flow’s portfolio of branded water at the Verona Facility, in addition to the production of BioSteel-branded sports hydration drinks on site."
Image Credit: Flow Beverage Corp.
Following the Virginia Facility sale, Flow Beverage Corp. and BioSteel entered into a co-manufacturing agreement that will "support an efficient transition while maximizing facility utilization." The agreement notes that "BioSteel will produce Flow’s portfolio of branded water at the Verona Facility, in addition to the production of BioSteel-branded sports hydration drinks on site."
Image Credit: Flow Beverage Corp.
Trend Themes
1. Co-manufacturing Partnership - Companies can benefit from strategic co-manufacturing agreements that maximize facility utilization and simplify operating structures.
2. Vertical Integration - Purchasing facilities can support rapid growth strategies and allow for greater control over the production process.
3. Branded Portfolio Expansion - Partnering with co-manufacturers can enable brands to expand their branded portfolio while maintaining focus on profitable growth.
Industry Implications
1. Beverage Manufacturing - Strategic co-manufacturing partnerships can benefit the beverage industry by enabling greater production capacity and expanding branded portfolios.
2. Sports Hydration - Vertical integration and co-manufacturing partnerships can support growth strategies in the sports hydration industry by enabling greater control over production and maximizing facility utilization.
3. Food and Beverage - Co-manufacturing partnerships can enable brands in the food and beverage industry to simplify operating structures and improve balance sheets while expanding branded portfolios.
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