MONTREAL, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Prime Drink Group Corp. (CSE: PRME) (“Prime” or the “Company”) announced today that it has undertaken a strategic restructuring of its wholly-owned subsidiary, Triani Canada Inc. (“Prime Bottling”). The objective of the restructuring is to apply the findings of an objective third-party financial analysis to current business operations to assess long-term viability and optimize organizational structures to improve the profitability of bottling plant operations and exclusively licensed brands.
This initiative will also serve to reduce operating expenses and reposition the Company for scalable revenue growth, near-term cash flow positivity and long-term shareholder equity.
Since the acquisition of Prime Bottling, the Company has attempted to revitalize operations through a continuity-oriented approach despite a complex situation. However, the results of the objective financial analysis have highlighted the need for a strategic overhaul.
The Company has appointed Garry Turpin as Executive President of Prime Bottling, effective immediately. Mr. Turpin has more than 20 years of executive management experience in manufacturing plants, including six years as plant manager at Plancher Avant-Guard Thurso, two years as plant manager at Valoritec, two years as plant foreman at Cascades and eight years as operations manager at Produits Forestiers Turpin.
Alexandre Côté, Prime's Chief Executive Officer, commented: “The overhaul of our bottling operations is essential to ensure the long-term sustainability of the company. We are convinced that this transition, under Garry Turpin's leadership, will enable us to strengthen our foundations and emerge even stronger. Our goal is clear: to transform our plants into a model of excellence and innovation, where every employee can thrive in a stimulating and sustainable environment.”
Prime Bottling remains committed to its employees, partners and customers and will do its utmost to ensure that this transformation takes place under the best possible conditions.