Splash Beverage Group, Inc. said it agreed to acquire 80% of Pulpoloco Sangria in a transaction that will give Splash control over the manufacturing and distribution of Pulpoloco across the US while adding international markets, capturing the additional margin and revenue. Terms weren’t disclosed.
Splash acquired the distribution rights to Pulpoloco in 2020 and is currently the exclusive importer of Pulpoloco for the United States. Splash has overseen the dramatic growth of the brand, including a 43% increase in sales through May versus the prior year. Pulpoloco Sangria is made in Madrid, Spain following the family recipe of the founder Paul Damon with three varietals, Crisp White, Soft Rose’, and Smooth Red. Pulpoloco is packaged in a highly innovative, ecofriendly paper can called the CartoCan. Splash expects to complete the transaction by the end of August.
Robert Nistico, Splash Beverage Group’s chairman/CEO, commented, “In addition to bringing Pulpoloco entirely under the Splash roof, we will benefit from the additional layer of margin AND increase our global footprint and revenue. Pulpoloco was the only brand in our portfolio where we were not directly responsible for the manufacturing. Owning the manufacturing process entirely, which includes the exclusive rights of the innovative eco-friendly packaging, not only expands those rights, but will provide us with the opportunity to ship in greater bulk and to markets with faster growth potential. We believe this will help us add scale and drive additional revenue growth while potentially improving margins.”
Splash announced that Pulpoloco’s founder Paul Daman will also be joining the Splash team and will manage the international business for Pulpoloco and other Splash brands as well.