Splash Beverage Group, Chairman and CEO, Robert Nistico Provides Corporate Update
January 05 2023 - 08:00AM
GlobeNewswire Inc.
Splash Beverage Group, Inc. (NYSE American:
SBEV) (“Splash”
or the “Company”), a portfolio company of leading beverage brands,
today issued a letter to shareholders from Robert Nistico, Chairman
and CEO.
Dear Fellow Splash Beverage Group Shareholders,
As we embark upon 2023, I wanted to take this opportunity to
briefly update our shareholders on some key developments that have
taken place at Splash Beverage Group since our last corporate
update.
Since our August update, we have continued to add distribution
agreements and retail authorizations. This is a result of
positive brand performance in existing accounts, and our growing
reputation in the industry. Keep in mind that each new
distributor and / or retail chain adds revenue for Splash.
These examples of authorizations are from both national and
regional retailers throughout the country:
- Circle K, where all 7 varieties of Copa di Vino are now being
featured in West Coast stores.
- Publix, one of the top grocers in the U.S. has authorized
TapouT Performance Drink.
- Target, where TapouT is now authorized, and our distributors
are currently placing product on shelves.
- 7-Eleven, where Pulpoloco was selected for 7-Eleven’s Brands
with Heart highlighting our fully sustainable paper can.
- am/pm (BP), where TapouT is authorized for the West Coast of
the U.S.
- Winn Dixie Supermarkets has authorized TapouT and is being
distributed via one of our broadline distributors.
In addition, SALT Tequila continues its expansion with
distribution agreements in Nevada and Maryland. Our objective
of large venue distribution continues with The University of
Alabama’s Athletics Department, home of the Crimson Tide football
team, with one of the largest fan bases in the SEC, announced that
Copa di Vino will be the exclusive wine available at UA sports
events.
All told, we added more than a dozen-and-a-half new distributors
and half-a-dozen national and regional retail chain authorizations,
adding thousands of new shelfs to fill in as we prepare for 2023.
Setting up this many distributors and chains is an arduous
process and takes time. However, we believe we are poised to
realize the impact of these additional accounts beginning in early
in 2023 and we are very pleased with our progress as we continue to
build distribution throughout the U.S.
This growth requires capital of course to ensure we have
sufficient inventory to fill orders and support the additional
activity. Our most recent raise over the holidays (from the
sale of long-term convertible promissory notes and the issuance of
warrants to purchase common stock), does just that. These
funds came from pre-existing legacy investors and former board
members who have demonstrated a long-term approach with their
investments in Splash. We believe their investment is
indicative of their ongoing confidence in Splash Beverage Group as
it strengthens our balance sheet entering the new year.
We will be reporting our 2022 full year financial results soon,
but our third quarter results reported in November reflected a 73%
growth in gross sales on a quarter-to-quarter comparison, and 64%
growth on a 9-month basis. We are confident our overall
performance will eventually outpace external market influences.
All this added business needed additional hands to manage the
growth, so we brought on industry veteran James Allred, recently of
Anheuser-Busch InBev, to lead the sales team and drive new growth
initiatives. Our success isn’t just limited to new agreements
but has attracted some celebrity support as well. NFL great,
Drew Brees, is now an ambassador for TapouT to his substantial
number of fans and followers on social media.
Each of our brands tap into unique trends in consumer
preferences, and we believe that we are in the right categories at
the right time. We are very grateful to have you as
shareholders and we look forward to continuing to earn that
confidence.
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 update 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 31, 2022, 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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