Splash Beverage Group Signs Letter of Intent to Acquire Western Son Vodka
September 11 2023 - 9:29AM
via NewMediaWire - Splash Beverage Group, Inc. (NYSE American:
SBEV) (“Splash” or the “Company”), a portfolio company of leading
beverage brands, today announced it has executed a Letter of Intent
(“LOI”) to acquire JEM Beverage Management Company, LLC, owners of
the brand Western Son Vodka. Terms of the transaction have
not been disclosed as they are subject to reaching a definitive
agreement.
Western Son Vodka, founded in 2011 is headquartered in Pilot
Point, Texas, with a production and distribution campus spanning
more than 150,000 square feet. Over the last twelve months
Western Son Vodka has sold approximately 309,000 9-liter cases of
vodka. Distilled 10X and made with 100% American corn, the
award-winning portfolio includes a Best-in-Class Original Vodka and
is a four-time winner of Impact’s Spirits Hot Brand Award.
Speaking of the acquisition, Robert Nistico, Chief Executive
Officer of Splash Beverage Group, said, “This acquisition is a
significant step forward in our growth strategy. Led by our
president & CMO Bill Meissner, we began speaking with Western
Son in 2022, familiarizing ourselves with the organization to best
strategize the integration with Splash. When the transaction
is complete, this will be our largest acquisition to date, and it
falls withing the range of acquisition targets we outlined in our
recent acquisition Credit Facility announcement as we move down the
acquisition path. Splash Beverage will bring sales and
marketing support to Western Son and Western’s distillery and the
shipping campus will establish a centralized production and
distribution hub for Splash’s existing brands, Pulpoloco and SALT
Tequila in addition to any future acquisitions, creating logistics
cost savings in favorable shipping lanes, reducing freight out
expense and ultimately increasing margins. We believe this
acquisition will help accelerate both the depth and breadth of
distribution for all the brands involved.
“On a personal note, I would like to take one moment to remember
and honor all Americans and our friends who lost or sacrificed
their lives on this day in 2001. We will never forget.”
Carlos Guillem, President of Western Son Vodka,
commented, “The agreement between Splash and Western Son
represents an exciting opportunity for the brand and the entire
team. Our focus has been on creating and delivering the
highest quality vodka to the market, and this represents a major
step in our journey. The leadership, expertise, and capital
that Splash Beverage can bring to the table, will allow Western Son
to expand its reach to more consumers.”
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 wines by the
glass, SALT flavored tequilas, Pulpoloco sangrías, and TapouT
performance hydration and recovery drinks. 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
About Western Son Vodka
Western Son Vodka, founded in 2011, is known for
their award-winning, 10X distilled, gluten-free craft vodka made
with 100% American corn. The product line-up includes a
best-in-class Original Vodka and 10 flavors made with real fruit.
Western Son Vodka is a 4X Impact Hot Brand winner awarded by M.
Shanken Communications. The distillery is located in Pilot Point,
Texas which includes 2 campuses that span over 150,000+ sq. ft and
a hospitality center that is open to the public. More
information on the brand can be found at @WesternSonVodka
on Instagram or at www.westernsonvodka.com.
Forward-Looking Statement:
This 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
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