Splash Beverage Group Enters (Non-Binding) Term Sheet to Fund Acquisitions
FORT LAUDERDALE, FL, Sept. 07, 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 entered a (non-binding) Term Sheet to fund acquisitions. The Credit Facility will act as a credit reservation agreement (up to an undisclosed amount) for multiple acquisitions and will provide acquisition financing at the current Euribor rate plus 1.5% and will mature in 7 to 10 years depending on each individual acquisition.
“This Credit Facility is designed to provide the financial backing for us to execute on a key feature of our business strategy, growth through acquisition,” said Robert Nistico, Chief Executive Officer of Splash Beverage Group. “We have built our organization with the intention of embarking on a series of significant acquisitions, with key officers, our President, CFO, Controller, National VP of Sales, etc., all with experience working with larger companies. This partnership will provide the financial capabilities to proceed with our vision. We intend to target brands accretive to Splash with revenues between $20 million and $75 million, as we believe that is the sweet spot for adding value by folding these brands into our proven management team and our distribution channels.
“Each acquisition will be treated as a separate transaction and does not limit us to just one brand and/or company. We will be opportunistic with our strategy, and believe we are poised to take a substantial leap forward in our growth trajectory at an opportunistic time in the beverage market; timing is everything and now is the time.” Nistico added, “We believe this provides us the strength and flexibility to act quickly in a challenging capital market environment, without the need for highly dilutive fund-raising activities.”
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.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
