SPLASH BEVERAGE GROUP, INC.

(SBEV)
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Delayed Nyse  -  04:00 2022-08-18 pm EDT
2.420 USD   -5.47%
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Splash Beverage Group Signs Agreement with Mexcor for Full State Distribution of All Three Beverage Alcohol Brands in Texas

06/30/2022 | 08:01am EDT

Fort Lauderdale, Florida, June 30, 2022 (GLOBE NEWSWIRE) -- Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced that it has reached agreement with Houston-based Mexcor International for the distribution of Pulpoloco, Copa di Vino and SALT Tequila brands throughout the state of Texas.

Established in 1989, Mexcor’s national sales network currently extends to 46 states, with direct distribution to Texas, Florida and California.  Mexcor has grown to become the third largest alcohol distributor in Texas while servicing more than 17,000 accounts including grocery stores, liquor stores, bars and restaurants and has established a network of partnerships with over 140 regional distributors.

Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “With almost 30 million residents, and four of the top eleven cities in America by population, Texas is a key component of any consumer growth strategy. This agreement provides Splash access to millions of consumers and retailers.  Statewide coverage has always been difficult with any one distributor in Texas. Mexcor has built an outstanding operation with excellent market coverage. Our brands will now be supported by three separate warehouses across the state through a distributor that has become one of the fastest growing distributors in the United States.”

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.com
www.copadivino.com
www.drinksalttequila.com
www.pulpo-loco.com
www.tapoutdrinks.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 Group
Info@SplashBeverageGroup.com
954-745-5815

Investor Information:
TraDigital IR
John McNamara
Email: john@tradigitalir.com
Phone: (917) 658-2602


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Source: SPLASH BEVERAGE GROUP INC.

2022 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2022 24,2 M - -
Net income 2022 - - -
Net Debt 2022 30,0 M - -
P/E ratio 2022 -12,1x
Yield 2022 -
Capitalization 90,2 M 90,2 M -
EV / Sales 2022 4,97x
EV / Sales 2023 2,92x
Nbr of Employees 21
Free-Float 74,5%
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Number of Analysts 2
Last Close Price 2,42 $
Average target price 7,05 $
Spread / Average Target 191%
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Managers and Directors
Robert Nistico Chairman & Chief Executive Officer
William R. Meissner President & Chief Marketing Officer
Ronald Wall Chief Financial Officer
James Martin Chief Innovation Officer
Peter J. McDonough Independent Director
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