BDCI Enters the $15 Billion Dollar Bottled Water Market
JACKSON, MS / ACCESSWIRE / December 1, 2016 / Bahamas Development Corporation (OTC PINK: BDCI) has executed an asset purchase agreement to acquire an operational semi-automatic BF-3000 XLT water line manufactured by Norland Products, Inc.. A deposit was made to the Escrow agent on 11/21/2016. The purchase will not result in any dilution or toxic debt to the Company.
The Norland BF-3000 XLT water line can produce up to 3,000 half (1/2) liter bottles per hour. Once the water line is shipped and set-up locally in Freeport, BDCI will be able to produce fresh bottled spring water with high alkaline content for sale across the Bahamas. BDCI has also acquired 60,000 empty bottles that will be used to help introduce Bahama Springs™ to the Bahamas.
The average cost to produce one bottle of high alkaline content water is approximately $0.15 on an Island that hosts 500,000 tourists per month and where regular bottled water costs over $3.00 per bottle. The Bahamas spends millions of dollars importing water annually. Bahama Springs™ can supply locally sourced natural spring waters of the Bahamas, which is naturally fortified with minerals. With name recognition and national support, this water can later be distributed throughout the Caribbean and even penetrate the U.S., just like Fiji Water.
The Grand Bahama Port Authority (GBPA) owns and controls underground fresh water springs high in alkaline content. It is willing to sell spring water to BDCI, thus giving us the only nationally recognized bottled spring water that has the backing of the Grand Bahama Port Authority and the Bahamian government. The water is so clean that it only requires simple filtration. Reverse osmosis is not necessary.
BDCI notified the GBPA of the water line acquisition and other developments after the deposit was posted to Escrow.
The Bottled Water Industry
As Americans look for better-for-you alternatives to carbonated soft drinks (CSDs), the U.S. bottled water category is reaching unprecedented heights, according to new research from Chicago-based Mintel, which reveals that sales of bottled water increased 6.4 percent to top $15 billion in 2015. The market research firm expects sales to continue ascending at a rapid pace through 2020, with projected sales growth of 34.7 percent for the category, including 75.1 percent growth for the sparkling/mineral water/seltzer segment.
A wide range of interest also has emerged in functional attributes for bottled water. More than two in five (43 percent) consumers are interested in bottled water enhanced with vitamins; another three in 10 agree that the ideal bottled water should contain minerals (29 percent) and energy (29 percent). When it comes to calorie counting, consumers show a clear preference for zero-calorie bottled water (31 percent), as opposed to less than 100 calorie offerings (13 percent). The market research adds that two in five (43 percent) consumers say that the ideal bottled water would have no artificial sweeteners, artificial flavors (43 percent) or artificial colors (40 percent), and one-quarter of consumers report that their ideal bottled water would be GMO-free or organic (24 percent). The trend of increasing demand for organic food and drink options continues as research indicates 37 percent of consumers feel better about themselves when they buy organic foods and beverages.
Photographs: Bahamas Development Corporation (BDCI) Norland Products BF-3000 XLT water line
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SOURCE: Bahamas Development Corporation