Splash Beverage Group Secures Statewide Authorization for SALT Naturally Flavored Tequila in Pennsylvania
Splash Beverage Group (NYSE American:SBEV) has secured statewide authorization for its Chocolate SALT Tequila from the Pennsylvania Liquor Control Board (PLCB). This achievement allows the product to be available in nearly 600 fine wine and spirits stores across Pennsylvania starting in September.
Chocolate SALT Tequila is a premium 100% Blue Agave Tequila produced in Jalisco, Mexico. It's an 80 proof / 40% ABV Tequila infused with rich mocha, dark chocolate, and subtle Himalayan Sea salt flavors. This authorization aligns with Splash Beverage Group's strategy to build a comprehensive distribution network and scale its brands nationally, facilitated by its new distributor relationship with Johnson Brothers in Pennsylvania.
- Secured statewide authorization for Chocolate SALT Tequila in Pennsylvania
- Product will be available in nearly 600 fine wine and spirits stores across Pennsylvania
- Aligns with company's strategy to build a comprehensive distribution network
- New distributor relationship with Johnson Brothers in Pennsylvania
- None.
Insights
Market Expansion: Splash Beverage Group achieving statewide authorization for its Chocolate SALT Tequila in Pennsylvania is a notable move. This expands their market reach to nearly 600 stores, enhancing brand visibility and accessibility. For a beverage company, distribution is key to sales growth and gaining access to a state-controlled market like Pennsylvania can significantly boost revenues.
Consumer Preferences: The unique flavor profile of Chocolate SALT Tequila, with its blend of mocha, dark chocolate and Himalayan Sea salt, targets a niche segment. Given Pennsylvania's diverse consumer base, this product could attract both tequila enthusiasts and those looking for novel taste experiences. By positioning themselves in a market that values premium and craft beverages, Splash Beverage Group is tapping into a growing trend of consumers seeking high-quality, unique liquor options.
Strategic Distribution: The partnership with Johnson Brothers, a reputable distributor, is crucial. Effective distribution ensures that the product is not only available but also well-promoted within the retail outlets. This collaboration can streamline logistics and enhance marketing efforts, leading to better shelf placement and potential promotional activities.
Implications for Investors: Short-term, this news could result in a positive uptick in sales as the product hits the shelves and promotions begin. Long-term, consistent performance in Pennsylvania could lead to further expansion in other state-controlled markets. However, investors should watch for actual sales data post-launch to gauge consumer reception and the effectiveness of the distribution network.
Revenue Impact: The authorization from the Pennsylvania Liquor Control Board (PLCB) is likely to reflect positively on Splash Beverage Group's revenues. The addition of Chocolate SALT Tequila to nearly 600 stores provides a substantial new revenue stream. Investors should anticipate an increase in sales figures starting from the fourth quarter when the product becomes available in September.
Cost Considerations: While the revenue potential is high, it's important to consider the associated costs. Expanding distribution and marketing efforts can lead to significant initial expenses. These costs will be reflected in the upcoming financial reports and investors should monitor the balance between increased revenues and operational costs.
Long-term Financial Health: Consistent sales and positive reception in Pennsylvania could pave the way for entry into other state-controlled markets, leading to sustained revenue growth. However, it's important to observe how the company manages its growth strategy to ensure profitability is not compromised. The partnership with Johnson Brothers adds a layer of reliability in terms of distribution efficiency, which can mitigate some financial risks associated with market expansion.
FORT LAUDERDALE, FL / ACCESSWIRE / July 18, 2024 / Splash Beverage Group, Inc. (NYSE American:SBEV), a leading beverage company known for acquiring and growing early-stage brands to national and international prominence, is thrilled to announce that its Chocolate SALT Tequila brand has received its authorization from the Pennsylvania Liquor Control Board (PLCB). This significant achievement allows Chocolate SALT Tequila to be available in nearly 600 fine wine and spirits stores across Pennsylvania starting in September.
The PLCB's mission is to responsibly sell wine and spirits as a retailer and wholesaler, regulate Pennsylvania's alcohol industry, promote alcohol education and social responsibility, and maximize financial returns for the benefit of all Pennsylvanians. Gaining authorization from the PLCB is a major achievement and the first step in the state for Splash Beverage Group and its growing portfolio.
Chocolate SALT Tequila, a premium
"This authorization from the PLCB is a testament to the quality and appeal of our brand SALT Tequila," said Robert Nistico, CEO of Splash Beverage Group. "We are excited to bring this exceptional product to Pennsylvania's state operated fine wine and spirits stores. Our strategic approach to building a robust distribution network is proving effective, and this achievement aligns perfectly with our mission to scale our brands nationally and would have not been possible in the state without our new distributor relationship there with Johnson Brothers."
On the heels of strong June results for its beverage portfolio, Splash Beverage Group continues to build a comprehensive distribution network to access large retailers, restaurants, and venues, ensuring the scalability of its brands. The inclusion of Chocolate SALT Tequila in Pennsylvania's fine wine and spirits stores is another significant milestone forward in this strategy.
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 and Pulpoloco sangria. 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.
About Legacy Distribution Group
Legacy Distribution Group is a premier distributor with a longstanding reputation for excellence in the beverage industry. Known for their ability to nurture emerging brands and elevate them to mainstream success, Legacy Distribution Group is dedicated to providing comprehensive market coverage and exceptional service to their partners.
Follow Splash Beverage Group on Twitter: www.twitter.com/SplashBev
For more information visit:
www.SplashBeverageGroup.com
www.copadivino.com
www.drinksalttequila.com
www.pulpo-loco.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
SOURCE: Splash Beverage Group, Inc.
View the original press release on accesswire.com
FAQ
When will Chocolate SALT Tequila be available in Pennsylvania stores?
How many stores in Pennsylvania will carry Splash Beverage Group's (SBEV) Chocolate SALT Tequila?
What is unique about Splash Beverage Group's (SBEV) Chocolate SALT Tequila?
Who is Splash Beverage Group's (SBEV) new distributor in Pennsylvania?
