Clearly Canadian Brands today announced that in the upcoming 4th quarter it will be launching its revamped line-up of Clearly Canadian sparkling flavored waters in 20 oz and 1 Liter PET, which will be produced under their new bottling agreement with Cott Corporation. With a focus on this new beverage launch and a mandate to be EBITDA profitable by the end of the 4th quarter of 2008, the Company has decided to hold off on new acquisitions for the balance of this year, including its previously announced letters of intent with Baldwin Street Kosher and Crofters Foods.
Stated Bobby Genovese, CEO of Clearly Canadian Brands, “We are very focused on the success of all our current divisions. Our healthy snack divisions and our organic baby food divisions are growing and we are incredibly excited about the launch of the new Clearly Canadian sparkling flavored waters. We expect to gain significant market share over the next few years, and feel our resources are currently better used towards the expansion of this now very profitable product line. Through the building of our existing businesses and the move to profitability, we feel we will then be in a superior position as market and credit conditions improve to bring new acquisitions into our fold.”