Flow Water has announced its intent to go public.
As part of the transaction, the company is looking to raise a minimum of CAD $65 million, of which CAD $30 million has been committed from existing shareholders as part of a non-brokered financing (surpassing their initial private placement goals).
“Flow will be leveraging its new retail partnerships as well as strategic expansion to our DSD network to broaden the availability of the Flow portfolio to include conventional grocery, mass, and gas & convenience,” Nicholas Reichenbach, founder of Flow Water tells Grocery Business.
He says that one reason why the company is going public is because it's experienced rapid growth for five years since the formation of the company. Even in the midst of the pandemic, Reichenbach says the company grew more than 40 per cent in 2020.
Flow has seen a lot of growth in revenue in 2020. Flow products are available across North America.
Flow plans to grow e-commerce distribution through customer experience. “This will be supported by our continued brand building activities and upcoming campaigns which will seek to convert impressions to repeat purchase,” says Reichenbach.