Management Series: Flow Beverage (FLWBF)
Flow Beverage (FLWBF; $0.13; $10MM Market Cap) participated in WTR’s Consumer Products Virtual Investor Conference on June 5, 2024. Representing the company was CFO Trent MacDonald. This report contains a transcript of the conversation, which can be accessed on demand. Flow Beverage sells premium, all-natural alkaline spring water from two sources, one in Ontario, Canada, and the other in Virginia in the US. The company sells its water in both countries, and it is packaged in Tetra Prisma, which is the most sustainable packaging in the world. Flow Beverage started out direct to consumer on an e-commerce platform, but has diversified into many different channels, including C-stores, club, and grocery. However, it has recently put a particular focus on foodservice and has become the water of choice in Starbucks across Canada. The company views the foodservice channel as a great way to get consumers to trial the product. While half of its business is in the US, Flow Beverage believes it is still in its infancy here. It has been particularly successful in California, Florida, and New York. Recently it has gone through a dramatic restructuring of its entire business, part of which was to make its entire go-to-market strategy more robust. The company started with natural food chains like Whole Foods and Sprouts, but it has been getting into more channels that it expects will really open up over the next 12-24 months. Flow Beverage has done a lot of heavy lifting over the past nine months since MacDonald came on board, repairing the financials, where it may have looked like solvency was an issue. The restructuring mindset was simplify, simplify, simplify. The restructuring affected every functional area of the business, including the IT ecosystem and go-to-market logistics such as shipping and warehousing. The company believes it is about 85% complete on the restructuring, with the goal now to start growing profitably in conventional grocery, C-stores, natural foods as well as direct to consumer. WTR held its inaugural Consumer Products Virtual Investor Conference on June 5 and 6. Presentations are available on demand here and 1x1 availability requests can be sent to .
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