Splash Beverage Group Inc. (NASDAQ: SBEV) stock declined by 10% at the last close whereas the NBEV stock price gains by 9.83% in the after-hours trading. Splash Beverage Group specialises in the production, distribution, sales, and marketing of a wide range of beverages through a variety of channels. SBEV works in both the non-alcoholic and alcoholic beverage markets, which they think allows them to maximise economies while also reducing risk.
SBEV stock’ Recent Past Development
Splash Beverage Group has reported that its distribution partnership with Eagle Brands has been extended to include Tapout which is a non-alcoholic performance drink. Eagle Brands has been distributing Splash’s Copa di Vino for the past eight years and SALT Tequila since July 2021. Since its beginnings in 1997, TapouT has been a worldwide lifestyle brand at the vanguard of Mixed Martial Arts. TapouT drinks contain a whole range of high-performance sports drinks. TapouT Hybrid and TapouT Performance both include a 3-in-1 superior performance formula that provides hydration and cellular recovery.
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Eagle Brands is one of Miami-Dade County’s leading independent distributors. Eagle Brands, which was founded in 1984, is the offspring of a family-owned firm started from the bottom up by industrious, imaginative Cuban immigrants. With over 300 devoted employees, the company distributes over 8 million cases of beer, wine, cider, and non-alcoholic items to approximately 4,500 retail clients in Dade and Monroe counties each year.
For the second year in a row, the MINDBODY Wellness Index has named Miami, Florida as the healthiest city in America, with 87 percent of inhabitants working out at least once a week. All of that activity requires recovery. Introducing TapouT’s clean-energy formula with this group was a significant goal for the TapouT team while doing so with a distributor who can reach all of the market’s major gyms and stores is ideal.
Robert Nistico, CEO of Splash commented,
They’re ecstatic to be expanding their distribution arrangement with Eagle, a family-owned beverage distribution powerhouse. This confirms Splash’s investment thesis in Copa di Vino, as they benefit financially from its distributor network, which has become a conduit for distributing SALT Tequila to spirits stores and now TapouT.