SBEV - Splash Beverage Group Signs Letter of Intent to Acquire Western Son Vodka | Benzinga
FORT LAUDERDALE, FL, Sept. 11, 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 executed a Letter of Intent ("LOI") to acquire JEM Beverage Management Company, LLC, owners of the brand Western Son Vodka. Terms of the transaction have not been disclosed as they are subject to reaching a definitive agreement.
Western Son Vodka, founded in 2011 is headquartered in Pilot Point, Texas, with a production and distribution campus spanning more than 150,000 square feet. Over the last twelve months Western Son Vodka has sold approximately 309,000 9-liter cases of vodka. Distilled 10X and made with 100% American corn, the award-winning portfolio includes a Best-in-Class Original Vodka and is a four-time winner of Impact's Spirits Hot Brand Award.
Speaking of the acquisition, Robert Nistico, Chief Executive Officer of Splash Beverage Group, said, "This acquisition is a significant step forward in our growth strategy. Led by our president & CMO Bill Meissner, we began speaking with Western Son in 2022, familiarizing ourselves with the organization to best strategize the integration with Splash. When the transaction is complete, this will be our largest acquisition to date, and it falls withing the range of acquisition targets we outlined in our recent acquisition Credit Facility announcement as we move down the acquisition path. Splash Beverage will bring sales and marketing support to Western Son and Western's distillery and the ...