Splash Beverage Group Enters (Non-Binding) Term Sheet to Fund Acquisitions
07 Septiembre 2023 - 8:29AM
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.comwww.copadivino.comwww.drinksalttequila.comwww.pulpo-loco.comwww.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
GroupInfo@SplashBeverageGroup.com954-745-5815
Splash Beverage (AMEX:SBEV)
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