🌊 BevAlc Star Extends Co-Packing Deal

Flow Water and BeatBox Beverages are extending their manufacturing agreement for another year while raising its high minimum total revenue by nearly $100 million, the companies announced in a press release this morning.

💸 The deal is being financed by BeatBox’s commitment to purchase a $2 million convertible note by Oct. 31 secured against the assets of Flow, a publicly traded company on the Toronto Stock Exchange.

🏭 BeatBox only began commercial production at the Aurora, Ontario facility in June following the installation of a fourth TetraPak line and additional equipment to accommodate the increased volume. 

📈 But the upgraded projections – with minimum total revenue increasing from $115 million to $213 million over the five-year term – means the addition of two more production lines “satisfy the increased demand for co-manufacturing from BeatBox, in addition to other co-manufacturing agreements recently announced and to accommodate anticipated growth in the Flow brand.”

BevNET Insiders can read the full story for a comprehensive understanding of BeatBox’s growth plans.

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Despite bad weather hampering Europe’s peak aperitivo months, stateside Spritz-ing has kept up sales for Campari, the group reported in its H1 earnings report yesterday. 

• The maker of Aperol saw sales rise 3.8% in H1 2024 to $1.64 billion, with revenue picking up in the second quarter. 
• But the group cautioned that it may not recover much margin this year, citing “temporary headwinds” including bad weather in Europe and a delay in agave contract renewals.
• Double-digit Espolon sales, mostly in the U.S., added to the group’s momentum in tequila, a category where other spirits groups are now struggling. 

Read the earnings rundown on BevNET.

What is Notable about the CPG Week podcast this week? Well, for starters, Nosh managing editor Monica Watrous and senior reporters Brad Avery and Lukas Southard share their own Nosh Notables honorable mentions, including a nod to Omsom, Netflix’s Unfrosted and one iconic hot honey maker. 

💰 The team then dives into some news from the week including a rundown of Oats Overnight’s recent Series B funding.

💊 Later in the show, the podcast hosts discuss the Brightfield Group’s exclusive BevNET/Nosh Q2 Report: The GLP-1/Ozempic Craze and reflect on food brands’ marketing strategies around the growing demand for weight loss solutions related to GLP-1 drugs.

Listen to the full episode on Nosh.

• A roundup of the latest marketing moves from around the industry
• How AriZona brought a creative new partnership to its product lineup
• News of a beverage industry vet's move to a growing hydration brand
• Details on Jones Soda's latest financing strategy

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