Initial rollout to luxury hotels including Fairmont and Sofitel beginning in April 2022
The partnership assists in Accor’s commitment to eliminate single-use plastic in the guest experience
TORONTO, April 28, 2022--(BUSINESS WIRE)--Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) ("Flow" or the "Company") today announced that it has executed an agreement with Accor for Flow Alkaline Spring Water to become Accor’s official water partner in North and Central America. The vendor agreement between Flow and Accor is intended to replace all single-use plastic water bottles across Accor’s properties in the region with Flow water.
A world leading hospitality group with more than 5,300 properties in 110 countries, Accor is the second largest luxury hotel operator in North America. Beginning in April 2022, Flow products will be launched at more than 70 luxury hotel properties under such globally renowned brands as Fairmont and Sofitel, across Canada, the U.S., Puerto Rico, Bermuda and Barbados.
Flow products will support Accor’s notable sustainability initiatives, including its commitment to remove all single-use plastics from the guest experience. Flow is B Corporation™ certified and operates as carbon neutral, aligning with Accor’s commitment to industry-leading sustainability standards.
Flow’s CEO, Maurizio Patarnello, said, "The agreement with Accor is a significant milestone as it represents Flow’s entry into the food service customer segment in a large scale, which we have outlined as a key growth driver in our strategic framework. Food service operators are increasingly prioritizing sustainability credentials in the vendor selection process, and we expect that this trend will continue to represent a significant growth accelerator for Flow. We are delighted to be partnering with a premium operator like Accor and we will work with expedience to help transition Accor’s guest experience away from single-use plastics."
"The introduction of Flow water into Accor properties across North and Central America marks a significant step forward in the elimination of single-use plastics from our hotels," said Denis Klurfeld, Vice President, Procurement, Accor North and Central America. "The alignment with Flow is an exciting opportunity to bring Accor together with a company that shares our deep commitments to operating responsibly and with a positive impact on the world around us."
About Accor
Accor is a world leading hospitality group consisting of 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a joint venture, which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and more than 260,000 team members worldwide. Members benefit from the company’s comprehensive loyalty program – ALL – Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.
About Flow
Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a sustainable, 100% recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, and collagen-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to "bring wellness to the world through the positive power of water." Flow beverage products are available online at flowhydration.com and are sold at over 25,800 stores across North America.
For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.
Cautionary Statement
This press release may contain "forward-looking statements" within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", or "continue", although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavourable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220428005495/en/
Contacts
Devan Pennell, Chief Financial Officer
1-844-356-9426
investors@flowhydration.com
US investors:
Lynne Collier
Lynne.collier@icrinc.com
Canadian investors:
Marc Charbin
investors@flowhydration.com
Media:
Natasha Koifman
nk@nkpr.net
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