- Splash Beverage Group Inc (NYSE:SBEV) has signed an agreement to acquire 80% of Pulpoloco Sangria, a Spanish wine brand, for an undisclosed sum.
- Splash has previously acquired the distribution rights to Pulpoloco in 2020 and is currently the exclusive importer of Pulpoloco for the United States.
- Pulpoloco Sangria is made in Madrid, Spain, following the family recipe of the founder Paul Damon with three variants, Crisp White, Soft Rose’, and Smooth Red.
- The deal is expected to give Splash control over the manufacturing and distribution of Pulpoloco across the US and international markets, providing additional margin and revenue.
- The transaction is expected to be closed by the end of August 2022.
- Splash Beverage held $8.5 million in cash and equivalents as of March 31, 2022.
- Price Action: SBEV shares closed higher by 4.23% at $2.22 on Wednesday.
