Splash Beverage Group, Inc. (SBEV) Signs Updated Letter of Intent to Acquire Western Son Vodka

Splash Beverage Group, Inc. recently made headlines with the announcement of an updated Letter of Intent (LOI) to acquire Western Son Vodka primarily through a stock-for-equity transaction. This move comes as part of Splash’s strategic expansion efforts to enhance its brand portfolio within the beverage industry.

Under the terms of the proposed deal, Western Son shareholders are set to receive restricted stock in Splash Beverage Group, along with approximately 10% cash consideration. Additionally, Splash will undertake certain outstanding debt obligations of Western Son Vodka. The incorporation of Western Son’s revenue base is anticipated to effectively double Splash’s peak trailing twelve-month revenue, thereby significantly broadening the financial footprint of the Company.

This new merger structure is seen as an alternative to the previous majority cash-based acquisition plan and is designed to align the interests of both parties involved. However, the transaction remains subject to the finalization of definitive agreements, obtaining standard regulatory approval, and securing a shareholder vote.

Robert Nistico, CEO of Splash, expressed enthusiasm about the potential acquisition stating, “We have always believed that Western Son Vodka would be an outstanding addition to Splash’s portfolio. We look forward to working with Western Son and building the next major spirits brand.”

Western Son Vodka, established in 2011 and located in Pilot Point, Texas, is known for its award-winning craft vodka made with 100% American corn and 10X distillation process. The brand has garnered multiple industry accolades and recently won the 2024 Newsweek Readers’ Choice Award for Best Vodka.

Carlos Guillem, the President of Western Son, also shared his excitement about the developments, stating, “This strategic move strengthens our foundation for continued expansion, enhances our market presence, and reinforces our commitment to delivering exceptional quality to our consumers.”

Both companies are optimistic about the future prospects of this partnership and are aiming to complete the transaction within this quarter. Splash Beverage Group has committed to providing further updates as important milestones are achieved.

Splash Beverage Group is a forward-thinking player in the beverage sector, managing a diverse portfolio of alcoholic and non-alcoholic brands including Copa di Vino wine, SALT flavored tequilas, Chispo tequila, and Pulpoloco sangria. The Company’s strategy focuses on accelerating the growth of existing brands in its portfolio and acquiring innovative brands with high visibility in the industry.

Investors are urged to exercise caution as the Company emphasizes that forward-looking statements made in this report carry certain inherent risks and uncertainties, which might lead to actual results differing from the anticipated outcomes. The Company advises against placing undue reliance on these forward-looking statements, reminding that they only speak as of the date of publication.

For further inquiries and updates, interested parties can reach Splash Beverage Group via email at [email protected] or by phone at 954-745-5815.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Splash Beverage Group’s 8K filing here.

Splash Beverage Group Company Profile

Splash Beverage Group, Inc engages in the manufacturing, distribution, marketing, and sale of various beverages in the United States. It is involved in the manufacture and distribution of non-alcoholic and alcoholic beverages; and retail sale of beverages and groceries online through qplash.com. The company's products include flavored tequilas under the SALT Naturally Flavored Tequila name; hydration and energy products under the TapouT Performance name; wine under the Copa DI Vino name; and Pulpoloco Sangria.