Splash Beverage Group, Inc. (NYSE American: SBEV) is engaged as a specialty beverage company, which owns and operates a portfolio of alcoholic and non-alcoholic drinks. The company’s top brands feature TapouT, Copa di Vino wine, SALT flavored tequilas, Pilpoloco sangria, and more.
Shares of the diversified beverage company are surging 58% through early trading on Tuesday, January 11, 2022. Over the past three months, Splash Beverage Group has seen average daily volume of 177,090 shares. However, volume of 49.5 million shares or dollar volume of around $79.2 million, has already exchanged hands through early trading Tuesday.
The specialty beverage company is seeing shares rally after announcing it has received approval to sell its TapouT performance beverage across 47 Walmart (NYSE: WMT) locations in the Florida metropolitan region. This is a significant step for the company, as they eye continued distribution.
Splash Beverage Group’s Walmart announcement comes just months after the company entered into a distribution agreement with AB ONE for the distribution of TapouT, and its other brands. The multi-state distribution agreement takes advantage of independent Anheuser Busch wholesalers that were acquired via the Copa di Vino acquisition from December 2020.
“We are thrilled with this Walmart authorization, and this is a wonderful way to start 2022. Walmart is extremely selective in the brands they choose to offer their shoppers and selecting TapouT is great validation that TapouT can compete at the highest level with the biggest global brands,” said Robert Nistico, Splash Beverage Group’s Chairman and CEO. “We are grateful to Walmart for the opportunity, and equally grateful to our distribution partner AB One and the Anheuser Busch network, who’s credibility with Walmart we are certain played an important role in our selection. The opportunity for significant growth within the Walmart Florida market and beyond is one that we will eagerly seize, and we appreciate the validation and confidence Walmart has demonstrated with us and the TapouT brand”.
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