Splash Beverage secures $500,000 UAE order for Costa Rican water

FORT LAUDERDALE - Splash Beverage Group, Inc. (NYSE American:SBEV), currently trading at $1.94 and showing a market capitalization of $3.67 million, has received its first purchase order for premium bottled water from its recently acquired Costa Rican water source, the company announced Thursday. According to InvestingPro data, the company faces significant operational challenges with weak gross profit margins of 5.29%.

The order, valued at a minimum of $500,000, comes from the All Day Group, a retail and convenience operator based in the United Arab Emirates. The purchase includes both 500ml and 1000ml bottles of water sourced from an aquifer in Costa Rica.

This order comes shortly after Splash announced its acquisition of exclusive rights to the water source in a transaction valued at $20 million. The company described the source as located near a region of Costa Rica associated with exceptional health and longevity.

"This is more than a purchase order, it’s clear evidence that what we have is globally relevant and in demand," said William Meissner, President and Chief Marketing Officer of Splash Beverage Group, in the press release.

The company stated that the water is naturally alkaline and mineral-rich, filtered through volcanic rock in Costa Rica’s cloud rainforest. According to Splash, independent analysis confirms the aquifer produces water with mineral content and purity levels that exceed many category leaders.

The All Day Group operates in the high-end convenience and lifestyle retail space in the Middle East. Splash attributed part of its early success to relationships brought by Utopia Holdings, its strategic partner in the Costa Rica acquisition.

Splash Beverage Group’s portfolio includes alcoholic and non-alcoholic beverage brands such as Copa di Vino wine by the glass, Chispo tequilas, and Pulpoloco sangria.

The information in this article is based on a company press release. Investors seeking deeper insights into Splash Beverage Group’s financial health and growth prospects can access comprehensive analysis through InvestingPro, which offers 16 additional ProTips and detailed metrics about the company’s performance, including revenue forecasts and debt analysis.

In other recent news, Splash Beverage Group has announced a significant development regarding its operations. The company has entered into an agreement to acquire exclusive water rights to natural spring sources in Costa Rica for $20 million. This acquisition includes underground aquifers situated in the country’s cloud rainforests, granting the company ownership and control over the water source for its Blu premium water brand. Such a move is expected to enhance the company’s product offerings by securing a reliable and high-quality water supply. This development follows the company’s strategy to strengthen its position in the beverage market. The acquisition is a key step in ensuring the sustainability and growth of Splash Beverage Group’s premium water segment. Investors may find this strategic move noteworthy as it aligns with the company’s broader business objectives.

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