NEXE Innovations Announces Partnership with Bridgehead Coffee
Rhea-AI Summary
NEXE Innovations has announced a partnership with Bridgehead Coffee, a Canadian coffee company with 17 coffeehouses in Ontario. Bridgehead has transitioned to NEXE's BPI-certified compostable coffee pods from their previous soft-bottom pods, with an initial delivery including two SKUs: Centro House and Bytown Boom. Bridgehead, which generated $16.4 million in sales for 2023, distributes through major retailers including Costco, Whole Foods Market, Sobey's, and Farm Boy. The company was recently acquired by Pilot Coffee Group of Companies in early 2024.
Positive
- Partnership with established retailer Bridgehead Coffee, providing access to major distribution channels (Costco, Whole Foods, Sobey's)
- Immediate revenue generation through initial two-SKU delivery
- Access to Bridgehead's $16.4M annual sales network
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, NEXNF declined 2.28%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEXE's BPI-certified compostable coffee pods are expected to provide Bridgehead with an opportunity to further expand into the single-serve coffee market while staying true to its sustainability commitment
Previously, Bridgehead offered compostable soft-bottom coffee pods to its customers but has decided to transition to NEXE's BPI-certified compostable coffee pods. The initial delivery includes two SKUs from their coffee line (Centro House and Bytown Boom), which they also sell in bag versions.
Bridgehead was one of the first coffeehouses in
"NEXE is excited to partner with Bridgehead, not only to provide what we believe is a superior compostable coffee pod solution but also to leverage their well-established customer distribution channels, expanding the reach of our innovative products to a broader audience, stated Ash Guglani, President of NEXE Innovations, "The teams are working closely to build a successful long-term partnership and create a more sustainable future in the North American coffee industry."
Bridgehead was previously owned by a publicly traded company, Aegis Brands Inc., and generated
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1 Aegis Brands, 2023 Management's Discussion and Analysis, page 10 (https://aegisbrands.ca/investor-relations/financial-results/) |
About NEXE Innovations Inc.
NEXE Innovations is focused on providing innovative compostable material solutions and packaging to the B2B segment to help businesses achieve their sustainability goals. NEXE Innovations has developed a proprietary and patented compostable material that can withstand heat, pressure, and water. Our flagship product, the NEXE Pod, a BPI-certified compostable coffee pod, showcases our material's durability and is an ideal substitute for plastic. The NEXE pod is compatible with major coffee brewing machines and is manufactured at NEXE's vertically integrated facility based in
On behalf of the Company:
Ash Guglani
President & Director
For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
invest@nexeinnovations.com
Office +1-604-359-4725
Mobile +1-604-359-4742
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include, but are not limited to, statements in respect of the Company's partnership with Bridgehead. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, the Company's ability to execute on its business strategy and those risks set out in the Company's management's discussion and analysis for year ended May 31, 2024 under the headings "Risk and Uncertainties". Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include receipt of necessary approvals and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.
FAQ
What products is NEXE Innovations (NEXNF) supplying to Bridgehead Coffee?
Which retail channels will distribute NEXE Innovations (NEXNF) pods through Bridgehead?
What was Bridgehead Coffee's revenue in 2023 before partnering with NEXE (NEXNF)?
Who acquired Bridgehead Coffee in early 2024?
