Splash Beverage Group Inc. (SBEV) Acquires Copa Di
Post# of 68
(Total Views: 287)
Posted On: 04/20/2021 5:09:03 PM
Splash Beverage Group Inc. (SBEV) Acquires Copa Di Vino as It Seeks to Capitalize on Growing Popularity of Off-Premises Wine Consumption
- Splash Beverage Group acquired Copa Di Vino for $5.98 million in December 2020
- Copa Di Vino specializes in selling premium wine by the glass, a format which has grown in popularity in recent years
- With wine being increasingly consumed outside of restaurants, hospitality venues over past year, the Copa Di Vino acquisition provides SBEV with an avenue by which to capitalize on growing retail, online sales channels
Splash Beverage Group (OTCQB: SBEV), a holding company for a leading portfolio of beverage brands, completed the acquisition of James Martin’s Copa Di Vino on December 28, 2020 – marking Splash Beverage’s entry into the lucrative wine market (https://nnw.fm/g4R5C). The Copa di Vino acquisition, which SBEV agreed to purchase for a total consideration of $5,980,000 in addition to assuming certain liabilities, will mark the addition of a fourth premium brand to Splash Beverage’s portfolio, which already includes isotonic drink, TapouT Performance, tequila brand Salt Naturally Flavored Tequila and Pulpoloco Sangria from Spain, which comes in a sustainable innovative package that is both recyclable and biodegradable.
The United States wine industry saw total sales by value decline by between -0-2% percent in 2020, largely a result of widespread restaurant and hospitality closures. However, overall wine sales growth still outpaced the performance seen in the smaller premium wine segment, a category habitually associated with restaurant consumption, which saw sales decline by between -5 and -10 percent over the course of the year (https://nnw.fm/7J5My).
Nonetheless, despite a tumultuous year, certain segments of the American wine market have witnessed tremendous gain. Retailers with strong online sales strategies, wineries focused on Zoom tastings and phone sales, and wineries selling their products in novel packaging formats have all profited from robust sales figures resulting from the shelter-in-place orders, work-from-home trends and restaurant closures (https://nnw.fm/Cmw6u).
“Wine was added back to the family dinner table, and consumers adapted to online shopping and at-home delivery,” said Rob McMillan, founder of the Silicon Valley Bank Wine Division. “While many stocked up on everyday wines at the supermarket, consumers also rapidly switched to online options, either because their selections weren’t available in grocery stores or because doorstep delivery was viewed as safer,” he continued.
Copa Di Vino has been a significant beneficiary of the increased tendency for consumers to consume wine outside of traditional hospitality venues as well as in smaller, single-serve volumes. The company, a leading producer of premium wine by the glass in the United States, has looked to specialize in providing consumers with a ready-to-drink wine glass designed to go anywhere without the need for a bottle, corkscrew, or glass.
“We are extremely excited and proud to add Copa di Vino to the SBG portfolio of brands,” Splash Beverage Group CEO Robert Nistico noted in relation to the company. “In addition to numerous retail/off premise opportunities, Copa is perfectly suited for today’s on-premise/restaurant & hotel environment of curbside pickup. Copa Di Vino offers an outstanding quality product not normally found in the single serve wine segment.”
Having gained immense popularity after featuring on two separate appearances on the Shark Tank television show, Copa Di Vino’s selection of premium wines is distributed across 13,000 retail locations across the United States as well as through the Anheuser-Busch network, in addition to e-commerce outlets. With industry analysts IWSR forecasting wine sales to rise by a CAGR of 2.4% between 2020 and 2024, Copa Di Vino and Splash Beverage Group seem well placed to benefit.
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://nnw.fm/SBEV
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Splash Beverage Group acquired Copa Di Vino for $5.98 million in December 2020
- Copa Di Vino specializes in selling premium wine by the glass, a format which has grown in popularity in recent years
- With wine being increasingly consumed outside of restaurants, hospitality venues over past year, the Copa Di Vino acquisition provides SBEV with an avenue by which to capitalize on growing retail, online sales channels
Splash Beverage Group (OTCQB: SBEV), a holding company for a leading portfolio of beverage brands, completed the acquisition of James Martin’s Copa Di Vino on December 28, 2020 – marking Splash Beverage’s entry into the lucrative wine market (https://nnw.fm/g4R5C). The Copa di Vino acquisition, which SBEV agreed to purchase for a total consideration of $5,980,000 in addition to assuming certain liabilities, will mark the addition of a fourth premium brand to Splash Beverage’s portfolio, which already includes isotonic drink, TapouT Performance, tequila brand Salt Naturally Flavored Tequila and Pulpoloco Sangria from Spain, which comes in a sustainable innovative package that is both recyclable and biodegradable.
The United States wine industry saw total sales by value decline by between -0-2% percent in 2020, largely a result of widespread restaurant and hospitality closures. However, overall wine sales growth still outpaced the performance seen in the smaller premium wine segment, a category habitually associated with restaurant consumption, which saw sales decline by between -5 and -10 percent over the course of the year (https://nnw.fm/7J5My).
Nonetheless, despite a tumultuous year, certain segments of the American wine market have witnessed tremendous gain. Retailers with strong online sales strategies, wineries focused on Zoom tastings and phone sales, and wineries selling their products in novel packaging formats have all profited from robust sales figures resulting from the shelter-in-place orders, work-from-home trends and restaurant closures (https://nnw.fm/Cmw6u).
“Wine was added back to the family dinner table, and consumers adapted to online shopping and at-home delivery,” said Rob McMillan, founder of the Silicon Valley Bank Wine Division. “While many stocked up on everyday wines at the supermarket, consumers also rapidly switched to online options, either because their selections weren’t available in grocery stores or because doorstep delivery was viewed as safer,” he continued.
Copa Di Vino has been a significant beneficiary of the increased tendency for consumers to consume wine outside of traditional hospitality venues as well as in smaller, single-serve volumes. The company, a leading producer of premium wine by the glass in the United States, has looked to specialize in providing consumers with a ready-to-drink wine glass designed to go anywhere without the need for a bottle, corkscrew, or glass.
“We are extremely excited and proud to add Copa di Vino to the SBG portfolio of brands,” Splash Beverage Group CEO Robert Nistico noted in relation to the company. “In addition to numerous retail/off premise opportunities, Copa is perfectly suited for today’s on-premise/restaurant & hotel environment of curbside pickup. Copa Di Vino offers an outstanding quality product not normally found in the single serve wine segment.”
Having gained immense popularity after featuring on two separate appearances on the Shark Tank television show, Copa Di Vino’s selection of premium wines is distributed across 13,000 retail locations across the United States as well as through the Anheuser-Busch network, in addition to e-commerce outlets. With industry analysts IWSR forecasting wine sales to rise by a CAGR of 2.4% between 2020 and 2024, Copa Di Vino and Splash Beverage Group seem well placed to benefit.
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://nnw.fm/SBEV
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
(0)
(0)