FORT LAUDERDALE, FL, Sept. 11, 2023 (GLOBE NEWSWIRE) — 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.
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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.
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.
Splash Beverage Group
Source Globe Newswire