Canada: Cizzle Brands to acquire Flow Beverage Corp in $85.6 million deal

Cizzle Brands, a Canadian investment firm, has entered into an agreement to acquire Flow Beverage Corp, the Ontario-based alkaline spring water producer, for a total enterprise value of approximately C$85.6 million ($60.63 million).

Flow Beverage Corp is known for its alkaline water sourced from artesian springs and packaged in plant-based Tetra Pak cartons. Under the terms of the transaction, Cizzle Brands will acquire all issued and outstanding shares of the company. The deal aims to provide Flow Beverage Corp with a more robust capital structure to accelerate its growth within the premium water category.

Nicholas Reichenbach, founder and CEO of Flow Beverage Corp, stated: “This transaction represents a significant milestone for Flow. By joining forces with Cizzle Brands, we are securing a partner that shares our vision for sustainable, high-quality hydration and provides the financial backing to scale our operations and reach more consumers across North America”.

The move follows a period of restructuring for the water brand, which previously divested its manufacturing assets to focus on a more asset-light brand-building model. Cizzle Brands, which specialises in consumer goods investments, expects the acquisition to close following shareholder and regulatory approvals.

Source: FoodBev