Splash Beverage Group Announces New LOI for Merger and Acquisition of Western Son Vodka via Equity Exchange

EQS-News: SPLASH BEVERAGE GROUP INC. / Key word(s): Acquisition Splash Beverage Group Announces New LOI for Merger and Acquisition of Western Son Vodka via Equity Exchange 03.02.2025 / 16:40 CET/CEST The issuer is solely responsible for the content of this announcement.

FORT LAUDERDALE, FL - February 3, 2025 (NEWMEDIAWIRE) - Splash Beverage Group, Inc. (NYSE American: SBEV) ("Splash" or "the Company"), a portfolio company of leading beverage brands, today announced it has signed an updated Letter of Intent (LOI) to acquire Western Son Vodka (“WSV”) primarily through a stock-for-equity transaction. The addition of the Western Son revenue base will effectively double Splash’s peak trailing twelve-month revenue, significantly expanding the Company’s financial footprint. Under the proposed structure, Western Son shareholders would receive restricted stock in Splash Beverage Group and an approximate 10% of cash consideration. In return, Splash would assume certain outstanding debt obligations of WSV.

This merger structure represents an alternative to the previously announced majority cash-based acquisition and provides a pathway to completion that aligns the interests of both companies. The transaction remains subject to definitive agreements, standard regulatory approval, and a shareholder vote.

"We have always believed that Western Son Vodka would be an outstanding addition to Splash’s portfolio, which is why we have been so persistent to bring it into the Splash Portfolio," said Robert Nistico, CEO of Splash. “Both teams have not stopped their work together and today is very exciting … we are very much looking forward to working with Western Son and building the next major spirits brand. This LOI is an important step forward, and we are confident that structuring the deal as an equity exchange gives us a clearer path to completion. We believe our shareholders are very much in favor of this as it adds significant revenue and operational efficiencies,  shortens our path to profitability, and will be accretive. We look forward to working together in a unified manner as we move forward on this important transaction."