SBEV - Splash Beverage Group Enters (Non-Binding) Term Sheet to Fund Acquisitions | Benzinga
FORT LAUDERDALE, FL, Sept. 07, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Splash Beverage Group, Inc. (NYSE: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 ...