Waterloo Brewing Secures New Multi-Year Co-Pack Partner Agreement
Highlights:
- Waterloo Brewing has been awarded a three-year co-pack contract to produce an innovative line of Ready-to-Drink alcoholic beverages.
- This contract represents over $15 million in incremental revenue for Waterloo Brewing.
- Waterloo Brewing is increasingly the co-pack partner of choice in beverage alcohol with a 3-year CAGR of +29% driven by its leading capabilities in quality, production efficiency and customer service.
KITCHENER, ON, Dec. 2, 2019 /CNW/ - Waterloo Brewing (or the "Company") (TSX: WBR), today announced a new, three-year agreement to produce an innovative line of Ready-to-Drink alcoholic beverages.
"Winning this three-year contract is tremendous confirmation of the co-pack advantages we're bringing to the market," said Russell Tabata, Chief Operating Officer, Waterloo Brewing. "We have the expertise to produce complex alcoholic and craft beverages with production quality and efficiency that makes good business sense to our partners. Our extensive credentials and capabilities allow our partners to trust us with their valuable brands."
"The compounded annual growth rate of our co-pack business over the last three years is a staggering +29%, off an already significant base", added George Croft, President and CEO, Waterloo Brewing. "Our investment in top-end packaging, production, people and equipment, all within a significantly expanded brewing facility and warehouse are making us the production partner of choice in beverage alcohol. Our strategic use of capital is paying clear dividends and will so into the near term with our non-alcoholic capabilities coming online in early December of this year."
About Waterloo Brewing
Waterloo Brewing is Ontario's largest Canadian-owned brewery. The Company is a regional brewer of award-winning premium quality and value beers and is officially certified under the Global Food Safety Standard, one of the highest and most internationally recognized standards for safe food production. Founded in 1984 as Brick Brewing Co., the company was the first craft brewery to start up in Ontario and is credited with pioneering the present-day craft brewing renaissance in Canada. Waterloo Brewing has complemented its Waterloo premium craft beers with the popular Laker brand. In 2011, Waterloo Brewing purchased the Canadian rights to Seagram Coolers and in 2015, secured the exclusive Canadian rights to both LandShark and Margaritaville. In addition, Waterloo Brewing utilizes its leading-edge brewing, blending and packaging capabilities to provide an extensive array of contract manufacturing services in beer, coolers, and ciders. Waterloo Brewing trades on the TSX under the symbol WBR. Visit us at www.waterloobrewing.com
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements as of the date of this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "seek", "plan", "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are not guaranteed and are subject to certain risks, uncertainties, and assumptions, which may cause actual performance and financial results to differ materially from such forward-looking statements. The forward-looking statements included in this press release are made only at the date of this press release and, except as required by applicable securities laws, the Corporation does not undertake to publicly update such forward-looking statements to reflect new information, future events or otherwise.
SOURCE Waterloo Brewing Ltd.
Name: George Croft, Title: President and CEO, 519-498-9908, E-mail: [email protected]
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