GLEN
ALLEN, Va., March 9,
2023 /PRNewswire/ -- Hamilton Beach Brands Holding
Company (NYSE: HBB) announced today that its wholly-owned
subsidiary Hamilton Beach Brands, Inc., a leader in small kitchen
appliances, has entered into an exclusive multiyear agreement with
Numilk, to manufacture and sell commercial and consumer appliances
for use with Numilk ingredient pouches. The companies are in the
product design and engineering phase of a next-generation line of
appliances that are expected to launch in early 2024.
"Non-dairy, or plant-based, milks have become increasingly
popular, and the sale of such products is fast growing," said
Scott Tidey, senior vice president,
global sales, Hamilton Beach Brands. "Globally, sales are
approximately $20 billion. We expect
U.S. sales to grow approximately 10% annually. We are very excited
to collaborate with Numilk to provide the next generation of
specialty appliances that consumers and commercial customers can
use to make great tasting non-dairy milks on demand."
"Hamilton Beach Brands has an outstanding reputation for
creating high-quality, durable, and innovative small appliances,"
said Ari Tolwin, chief executive
officer, Numilk."Their design capabilities, manufacturing
relationships, selling and distribution expertise across all retail
and commercial channels will enable us to rapidly scale."
"Numilk pouches produce great tasting non-dairy milks, free of
gums, fillers and preservatives," adds Joe
Savino, co-founder, Numilk. "Our collaboration with Hamilton
Beach Brands will enable us to expand our global mission of
providing fresh non-dairy milks, with a reduced carbon footprint."
The Numilk system combines raw ingredient pouches with water to
create fresh, non-dairy milks, lattes and shakes, at the push of a
button. By not shipping the added water content, Numilk benefits
the environment by reducing the packaging and shipping waste and
emissions associated with traditional prepackaged beverages. For
more information about Numilk, please visit numilk.com.
About Hamilton Beach Brands Holding Company
Hamilton
Beach Brands Holding Company operates through its wholly owned
subsidiary Hamilton Beach Brands, Inc., a leading designer,
marketer, and distributor of a wide range of branded small electric
household and specialty housewares appliances, as well as
commercial products for restaurants, fast food chains, bars, and
hotels. The Company's owned consumer brands include Hamilton
Beach®, Proctor Silex®, Hamilton Beach
Professional®, Weston®, TrueAir®,
Brightline® and Hamilton Beach Health®. The
Company's owned commercial brands include Hamilton Beach
Commercial® and Proctor Silex Commercial®.
Hamilton Beach Brands licenses the brands for Wolf
Gourmet® countertop appliances, CHI® premium
garment care products, Clorox® air purifiers, and
Brita® countertop water appliances. Through exclusive
multiyear agreements, Hamilton Beach Brands designs, sells, markets
and distributes the Bartesian® premium cocktail delivery system and
the Smart Sharps Bin® from Hamilton Beach
Health® powered by HealthBeacon®. For
more information about Hamilton Beach Brands Holding Company, visit
hamiltonbeachbrands.com.
Forward-Looking Statements
The statements contained in
this news release that are not historical facts are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements are made
subject to certain risks and uncertainties, which could cause
actual results to differ materially from those presented.
Such risks and uncertainties include those described in the
Company's filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the year ended
December 31, 2021. Furthermore, the
future impact of unfavorable economic conditions, including
inflation, rising interest rates, availability of capital markets,
consumer spending rates, negative impacts resulting from the
COVID-19 pandemic and its downstream impacts and the ongoing
conflict in Ukraine remain
uncertain. In uncertain economic environments, the Company
cannot predict whether or when such circumstances may improve or
worsen, or what impact, if any, such circumstances could have on
its business, results of operations, cash flows and financial
position. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
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SOURCE Hamilton Beach Brands Holding Company