Splash Beverage Group Inc (NYSE:SBEV) has signed a distribution agreement with Tri County Beverage.
Splash Beverage Group manufactures and distributes a portfolio of alcoholic and non-alcoholic beverage brands, including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and the TapouT performance hydration and recovery drink.
Created in 1994, the Tri County Beverage is headquartered in Warren, Michigan, with roots back to 1958. It services Oakland and Macomb Counties with annual sales of 3 million cases.
What Happened: Tri County Beverage has agreed to distribute TapouT through the suburbs of Detroit.
Why It's Important: The agreement reflects Tri County's strategy to expand its distribution into hydration drinks, and TapouT will be among its flagship products. This is another opportunity for Splash to see some significant growth.
Price Action: SBEV shares are trading higher by 0.25% at $3.97 during the premarket session on Wednesday.
