Adds New Smoothie Carton Manufacturing Capacity
Already begins replacing lost bottle capacity with new Smoothie Cartons
The Company now has two continuing Twist & Go manufacturers, including one bottle and the new carton manufacturer, to offset the recently disclosed lost capacity from its third Twist & go manufacturer. The Company now has a significant amount of available Smoothie Carton capacity that it will be able to grow into as it enters new regional markets and increases market penetration in existing regions. The new Smoothie Cartons and expanded capacity were initially intended to be incremental business; however, in light of its recently announced issues with one of its Twist & Go manufacturers, the Company has already commenced transferring some of that lost smoothie bottle volume to Smoothie Cartons and expects to be able to have the majority of lost volume switched over during the course of the first quarter of 2023.
The Company has been working on a number of cost savings initiatives over the past year and the Smoothie Carton launch was one of those initiatives. The Smoothie Cartons were specifically designed to allow the Company to target the larger school districts as well as districts that are unable to use single use plastics for sustainability reasons.
Mr.
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Forward Looking Statements
Except for historical information herein, matters set forth in this press release are forward-looking, including statements about the Company’s commercial progress, success of its strategic relationship(s), and projections of future financial performance. These forward-looking statements are identified by the use of words such as “grow”, “expand”, “anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”, “forecast” and “project”, “continue,” “could,” “may,” “predict,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the Company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The contents of this release should be considered in conjunction with the Company’s recent filings with the
Investor Relations
ICR
646-277-1254
John.Mills@icrinc.com
ICR
646-277-1283
Deirdre.Thomson@icrinc.com
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Environmentally Friendly Twist & Go™ Smoothie Cartons
Environmentally Friendly Twist & Go™ Smoothie Cartons
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