Waterloo Brewing (or the “Company”) (TSX: WBR), has announced two new three-year agreements with separate co-manufacturing partners to produce “Ready to Drink” beverages in key North American markets. Service revenue from these agreements will be a minimum of $3.5 million per year, with expected revenue of $5.5 million per year.
Waterloo Brewing manufactures alcohol beverages of all types including beer, malt and spirit-based beverages, ciders, hard iced teas and non-alcoholic beverages. The Company continues to leverage these extensive capabilities to grow its co-manufacturing business.
“Waterloo Brewing continues to be the co-manufacturing partner of choice in Canada because of our best-in-class quality standards, production flexibility and speed to market,” said Russell Tabata, Chief Operating Officer of Waterloo Brewing.
“These long-term partnerships with secured base volumes will generate a minimum of $9 million and over $16.5 million in expected service revenue over the lifespan of the contracts. The growth of our co-manufacturing business continues to play an important and strategic role in the growth of our Company,” said George Croft, President & CEO of Waterloo Brewing. “When Waterloo Brewing grows, our community grows too. We value and appreciate every relationship we create with our co-manufacturing partners and the role that these new contracts play in supporting the health of our local economy.”
Visit them at www.WaterlooBrewing.com
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