Splash Beverage Group to Acquire Western Son Vodka Through Strategic Equity Exchange
TL;DR
Acquiring Western Son Vodka will double Splash's revenue, enhancing its market presence and strengthening its brand portfolio.
Splash Beverage Group signed an updated LOI to acquire Western Son Vodka through a stock-for-equity transaction, aiming to double revenue.
The partnership with Western Son Vodka promises continued expansion, market presence enhancement, and quality delivery to customers, creating a better future.
Western Son Vodka, known for its award-winning craft vodka, offers innovative flavors and a commitment to quality, catering to vodka lovers.
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Splash Beverage Group has proposed a strategic merger with Western Son Vodka that could significantly transform its market position and financial performance. The proposed acquisition would be primarily executed through a stock-for-equity transaction, with Western Son shareholders receiving restricted stock in Splash and approximately 10% cash consideration.
The new merger structure represents a departure from the previously announced majority cash-based acquisition, offering a more collaborative approach that aligns the interests of both companies. If completed, the transaction would effectively double Splash's peak trailing twelve-month revenue and enhance its operational capabilities.
Western Son Vodka, an award-winning craft vodka brand founded in 2011 and located in Pilot Point, Texas, brings a strong national presence to the merger. The brand's 10X distilled vodka, made with 100% American corn, has earned multiple industry accolades, including the 2024 Newsweek Readers' Choice Award for Best Vodka.
Robert Nistico, CEO of Splash Beverage Group, expressed confidence in the transaction, highlighting potential benefits such as increased revenue, operational efficiencies, and a shortened path to profitability. The equity exchange structure provides a clearer path to completing the merger, which remains subject to definitive agreements, regulatory approvals, and shareholder votes.
Both companies are targeting to close the transaction in the current quarter, signaling their commitment to creating a stronger, more competitive spirits brand in the market.
Curated from NewMediaWire
