Splash Beverage Group Inc. (SBEV) Benefits From Strongest U.S. Distilled Spirits Growth Rate in 18 years
Apr 14, 2021
- The North American liquor industry benefitted from a surge in revenue growth in 2020, in spite of widespread restaurant, bar closures
- U.S. distilled spirits gross revenues rose by 7.7% last year, the biggest percentage increase in 18 years with sales of tequila rising by 17.4% YoY
- Splash Beverage Group has benefitted from industry’s growth trends, seeing its quarterly sales growth soar nearly 10-fold between Q1-Q42020
- Splash Beverage has looked to diversify its product portfolio to benefit from ‘off-premise’ sales, including through recent acquisition of ‘Copa Di Vino’
With restaurants and bars shut across much of the United States for the majority of 2020, it would be only natural to assume that the North American liquor industry would have suffered alongside it; a study carried out in 2018 showed that on-premise alcoholic sales in establishments such as bars or restaurants accounted for over a gargantuan $147 billion in sales or 53% of total US alcohol revenues (https://ibn.fm/XpR0i). However, the experience over the past 12 months has been anything but normal. Splash Beverage Group (OTCQB: SBEV), a holding company for a leading portfolio of beverage companies, has been one of the players confounding expectations, having reported cumulative sales of $2.975 million in 2020 – while simultaneously seeing quarterly sales rise nearly tenfold between the first and fourth quarter of the year (https://ibn.fm/Avxhb).
Though impressive, Splash Beverage Group’s strong results may not have come to fruition without the supportive underlying trends witnessed within the U.S. alcoholic beverage industry. The United States Distilled Spirits Council reported that U.S. distilled spirits gross revenues rose by 7.7 percent in 2020, the biggest percentage increase in 18 years and the biggest dollar increase on…
NOTE TO INVESTORS: The latest news and updates relating to SBEV are available in the company’s newsroom at https://ibn.fm/SBEV
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