- In January, Splash Beverage Group acquired Copa Di Vino, leading producer of “wine by the glass” in U.S., immediately creating relationship with Copa Di Vino distributor Pepin Distributing
- Pepin has built distribution empire in Tampa Bay region to include distribution of 168+ premium brands with annual sales of over 10 million cases, 150,000 barrels of national and craft beers, growing wine and spirits portfolio
- Pepin has now added Splash’s SALT naturally flavored 100% Blanco agave tequila line to its product offerings, which will offer considerable exposure to Tampa’s large millennial population
Now that the world has reached a generational inflection point where nearly 80 million millennials outnumber other generations, getting in front of this group’s trends and all their spending power can have a substantive effect on a company’s top and bottom lines. For a spirits company, that’s where having an existing distribution network in a prime millennial region can lead to horizontal growth and a meaningful increase in sales. This month, that’s the exact scenario that played out for Splash Beverage Group (OTCQB: SBEV), as an acquisition was a gateway to get another product into the Tampa, Florida markets.
Splash is a portfolio company offering several types of alcoholic and non-alcoholic beverages, ranging from TapouT performance drink to a unique line of naturally flavored tequila. In January, the Fort Lauderdale-based company acquired Copa Di Vino, the leading producer of premium “wine by the glass” in the U.S. With the acquisition came a relationship with Pepin Distributing, a 54-year-old wine and spirits distributor that purveys Copa Di Vino in the greater Tampa Bay region.
Since its founding in 1967, Pepin Distributing has seen considerable growth, now employing about 280 people and distributing over 168 premier brands with annual sales that exceed 10 million cases and 150,000 half barrels of Anheuser Busch and other craft beers as well as a growing wine and spirits portfolio.
Tampa is a hotbed for millennials, people aged 24-39 by common definitions, as the median age of a Tampa resident is 34.7 years (https://ibn.fm/eNbWN). The ethos of millennials is rooted in experience and variety, an identity lending to the increased popularity of tequila. As noted by ResearchAndMarkets.com (https://ibn.fm/cde6J), “growing demand from millennials is one of the prime reasons driving the tequila market in U.S. growth during the next few years.”
Under the new ownership of Splash, it didn’t take long for the relationship with Pepin to expand from only Copa Di Vino to now include Splash’s SALT naturally flavored 100% Blanco agave tequila line. SALT comes in three flavors: berry, citrus and salted chocolate. SALT tequila is grown, distilled, and bottled in the Jalisco region of west-central Mexico. The region is famous for its tequila and is home to George Clooney’s Casamigos Blue Webber agave tequila that was bought by liquor giant Diageo (NYSE: DEO) in 2017 for up to $1 billion.
The expanded relationship with Pepin is representative of the model of Splash to make synergistic acquisitions on any number of levels, be it manufacturing, marketing or distribution. “The acquisition of Copa di Vino was a boon for us in a number of ways, and this further proves out our investment model, which is conducive to exponential growth as we continue to expand our sales force and selective acquisitions and/or brand developments,” said Splash President and CMO Bill Meissner.
For more information, visit the company’s website at www.SplashBeverageGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
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