Splash Beverage Group, owner of leading beverage brands, announced the acquisition of 80% of Pulpoloco Sangria, giving the group control over the manufacturing and distribution in the US and international markets.
Pupoloco Sangria is crafted in Spain, and Its distribution rights were acquired in 2020 by Splash, turning the giant into the exclusive importer of the drink in the US.
Robert Nistico, Splash’s chairman and CEO, commented: “In addition to bringing Pulpoloco entirely under the Splash roof, we will benefit from the additional layer of margin AND increase our global footprint and revenue”.
“Owning the manufacturing process entirely, which includes the exclusive rights of the innovative eco-friendly packaging, not only expands those rights, but will provide us with the opportunity to ship in greater bulk and to markets with faster growth potential”, Robert Nistico added.
The transaction is expected to be complete by the end of August.
Source: Street Insider