CANADA: Clearly Canadian transformation on track

By | 16 October 2007

Clearly Canadian has appointed new staff and received financial backing in line with its plans to transform the company into a health conscious branded firm.

 

The company said today (16 October), that as well as hiring new staff to reposition its flavoured water, it has also finalised the purchase of DMR Food Corporation and My Organic Baby, after receiving institutional financing.

 

In July, the company hired Mike Weinstein formally of Snapple, and Brian O'Byrne who ran Yoo-Hoo/Orangina, to its team. Weinstein and O'Bryne have been tasked with the repositioning the company's sparkling flavoured water products.

The company said in a recent statement: "Achieving this goal requires producing our product in economically and consumer friendly packaging, utilising strategically located bottling plants."

 

"It also requires the right talent, which is the reason we have waited to have Mike and Brian on board before executing on this plan. We believe their prior experience turning around brand name beverages and their relationships in the industry will have significant impacts on developing our brand."

Last month, Clearly Canadian closed on a US$9m institutional financing and restructured its obligations to the vendors of the new acquisitions DMR Food Corporation and My Organic Baby.

"We finalised the purchase of these two acquisitions and we currently have approximately $10m in cash to execute on our plans," the company said.

 

Sectors: Soft drinks, Water

Companies: Clearly Canadian

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