Splash Beverage Group, Inc. - SBEV STOCK NEWS

Splash Beverage Group, Inc. (SBEV) has announced a significant milestone in its growth journey with the addition of Sea World Parks & Entertainment to its large venue customers. Sea World Parks & Entertainment will now offer Splash Beverage Group's Pulpoloco Sangria in all of its parks across California, Florida, Pennsylvania, Virginia, and Texas. This collaboration represents a significant growth opportunity for Splash, allowing them to introduce their product to millions of visitors across Sea World, Busch Gardens, Discovery Cove, and Sesame Place parks. Pulpoloco Sangria, available in two varietals, will now be accessible to visitors at Sea World Parks & Entertainment venues, providing them with a refreshing and flavorful beverage option to complement their park experience.

Splash Beverage Group, Inc. (SBEV) appoints Stacy McLaughlin as Chief Financial Officer, bringing 21 years of finance and accounting experience, including managing $400M in revenue. Her responsibilities include overseeing all financial aspects of the company, M&A activities, and capital markets.

Splash Beverage Group, Inc. (SBEV) announced a partnership with Thornton convenience store chain to feature Copa di Vino single serve premium wines and Pulpoloco Sangria in Illinois and surrounding areas. The launch will include 4 varietals of Copa di Vino Premium Wine and 2 varietals of Pulpoloco Sangria. This expansion is the first step in a larger rollout planned for Spring 2024. The approval from AMPM Convenience, the parent company of Thornton's with over 1,500 locations nationwide, signals a significant growth opportunity for Splash Beverage Group. The company's President and CMO, Bill Meisner, and Chairman and CEO, Robert Nistico, expressed their excitement and gratitude for the partnership, highlighting the effectiveness of the portfolio approach in expanding the company's footprint and availability across the country.

Splash Beverage Group, Inc. (SBEV) announces that Walmart will feature Copa di Vino in the Southeast U.S. The rollout will include a minimum of 2 varietals of four packs of Copa di Vino, with shipping expected to start in late Q1. Walmart offered the 'Golden Ticket' award to Copa di Vino at its Open Call 2023 event, indicating selection as a new product to be sold in physical store locations. The company's rebranding efforts and distribution network were key factors in receiving this award, signaling the start of a growing relationship with Walmart.

Splash Beverage Group, Inc. (NYSE American: SBEV) reported a 5% increase in net revenues for the third quarter ending September 30, 2023, reaching $5.1 million. However, the gross profit decreased to $1.3 million due to inventory reserves and a one-time write down of old inventory raw materials. Operating expenses improved by 19% to $5.6 million, and the third quarter loss from continuing operations improved by 16% to $4.3 million. The company's total cash and cash equivalents were $96,121 as of September 30, 2023, compared to $4.4 million at December 31, 2022.

Splash Beverage Group announces partnership with Circle K for Copa di Vino brand

Splash Beverage Group announces new agreement with Horizon Retailers Association

Splash Beverage Group announces LOI to acquire Western Son Vodka. Western Son Vodka sold 309,000 9-liter cases in the last 12 months. Acquisition expected to increase distribution and create cost savings.

Splash Beverage Group announces a non-binding Term Sheet for a Credit Facility to fund acquisitions. The facility will provide acquisition financing at the current Euribor rate plus 1.5% and will mature in 7 to 10 years. The company intends to target brands with revenues between $20 million and $75 million.