Splash Beverage Group Enters into Agreement to Acquire 80% of Pulpoloco Sangria
23 Juin 2022 - 2:00PM
Splash Beverage Group, Inc. (
NYSE
American: SBEV) (“Splash” or the “Company”), a portfolio
company of leading beverage brands, today announced that it has
signed an agreement to acquire 80% of Pulpoloco Sangria in a
transaction that will give Splash control over the manufacturing
and distribution of Pulpoloco across the US while adding
international markets, capturing the additional margin and revenue.
Splash acquired the distribution rights to Pulpoloco in 2020 and
is currently the exclusive importer of Pulpoloco for the United
States. Splash has overseen the dramatic growth of the brand,
including a 43% increase in sales through May versus the prior
year. Pulpoloco Sangria is made in Madrid, Spain following
the family recipe of the founder Paul Damon with three varietals,
Crisp White, Soft Rose’, and Smooth Red. Pulpoloco is
packaged in a highly innovative, ecofriendly paper can called the
CartoCan. Splash expects to complete the transaction by the
end of August.
Robert Nistico, Splash Beverage Group’s Chairman and CEO,
commented, “In addition to bringing Pulpoloco entirely under the
Splash roof, we will benefit from the additional layer of margin
AND increase our global footprint and revenue. Pulpoloco was
the only brand in our portfolio where we were not directly
responsible for the manufacturing. Owning the manufacturing
process entirely, which includes the exclusive rights of the
innovative eco-friendly packaging, not only expands those rights,
but will provide us with the opportunity to ship in greater bulk
and to markets with faster growth potential. We believe this
will help us add scale and drive additional revenue growth while
potentially improving margins.”
Splash announced that Pulpoloco’s founder Paul Daman will also
be joining the Splash team and will manage the international
business for Pulpoloco and other Splash brands as well.
Follow Splash Beverage Group on Twitter:
www.twitter.com/SplashBev
About Splash Beverage Group,
Inc.Splash Beverage Group, an innovator in the beverage
industry, owns a growing portfolio of alcoholic and non-alcoholic
beverage brands including Copa di Vino wine by the glass, SALT
flavored tequilas, Pulpoloco sangria, and TapouT performance
hydration and recovery drink. Splash’s strategy is to rapidly
develop early stage brands already in its portfolio as well as
acquire and then accelerate brands that have high visibility or are
innovators in their categories. Led by a management team that has
built and managed some of the top brands in the beverage industry
and led sales from product launch into the billions, Splash is
rapidly expanding its brand portfolio and global
distribution.
For more information visit:
www.SplashBeverageGroup.comwww.copadivino.comwww.drinksalttequila.comwww.pulpo-loco.comwww.tapoutdrinks.com
Forward-Looking StatementThis
press release includes “forward-looking statements” within the
meaning of U.S. federal securities laws. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,”
“predicts,” “potential,” “continue” and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results and, consequently, you should
not rely on these forward-looking statements as predictions of
future events. These forward-looking statements and factors that
may cause such differences include, without limitation, the risks
disclosed in the Company’s Annual Report on Form 10-K filed with
the SEC on March 8, 2021, and in the Company’s other filings with
the SEC. Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Except as required by law, the Company disclaims any obligation to
update or publicly announce any revisions to any of the
forward-looking statements contained in this press release.
Contact Information:Splash
Beverage GroupInfo@SplashBeverageGroup.com954-745-5815
Splash Beverage (AMEX:SBEV)
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