Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of well-known beverage brands, announced today that it has signed a contract to purchase 80 percent of Pulpoloco Sangria. As a result of this deal, Splash will have control over Pulpoloco’s production and distribution in the US while also expanding into foreign markets, generating more profit and revenue.
Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “In addition to bringing Pulpoloco entirely under the Splash roof, we will benefit from the additional layer of margin AND increase our global footprint and revenue. Pulpoloco was the only brand in our portfolio where we were not directly responsible for the manufacturing. Owning the manufacturing process entirely, which includes the exclusive rights of the innovative eco-friendly packaging, not only expands those rights, but will provide us with the opportunity to ship in greater bulk and to market with faster growth potential. We believe this will help us add scale and drive additional revenue growth while potentially improving margins.”
In 2020, Splash purchased the distribution rights to Pulpoloco, and as of right now, Splash is the sole importer of Pulpoloco into the United States. Sales for the brand have increased by 43% through May compared to the same period last year, under the direction of Splash. The three varietals Crisp White, Soft Rose, and Smooth Red are used to make Pulpoloco Sangria in Madrid, Spain, according to the founder Paul Damon’s family recipe. The CartoCan, an extremely creative and environmentally friendly paper can, is used to package Pulpoloco. By the end of August, Splash hopes to get the deal closed.
Paul Daman, the founder of Pulpoloco, will handle the international business for Pulpoloco and other Splash brands, according to a Splash announcement.
About Splash Beverage Group, Inc.
The innovative beverage company Splash Beverage Group owns a growing array of alcoholic and non-alcoholic beverage brands, such as the copa di vino wine by the glass, the SALT flavored tequilas, the Pulpoloco sangria, and the TapouT performance hydration and recovery drink. Splash’s approach is to quickly advance early-stage brands that are already in its portfolio as well as to buy and then quicken the development of companies that are very visible or are leaders in their sectors. Splash is quickly growing its brand portfolio and international distribution under the direction of a management team that has created and managed some of the top brands in the beverage sector and driven sales from product launch into the billions.
Featured Image: DepositPhotos © Serezniy
