Splash Beverage Group Stock Rises After Company Receives Authorization for 187 Ralph’s Grocery Stores
Jan 19, 2022 By MarketDepth
Splash Beverage Group, Inc. (NYSE: SBEV) stock jumped more than 25% Wednesday after the beverage company announced that it has received authorization to sell its Pulpoloco Sangria line in 187 of Ralph’s Grocery stores. Ralph’s Grocery, a division of The Kroger Company, is a market share leader with 187 stores across Southern California.
“This is another significant milestone for Splash and a meaningful step in our strategy to expand into major supermarket chains. After a successful test run, Ralph’s authorized all three SKU’s of Pulpoloco white, rosé and classic red. Ralph’s already carries Splash’s Copa di Vino varietals, which were added in early summer of 2021, and now all 3 Pulpoloco varietals. We believe this is a strong affirmation that consumers are catching on to the unique product lines that Splash distributes and bodes well for future expansion.”Robert Nistico, Splash Beverage Group’s Chairman and CEO
Ralph’s Grocery is owned by The Kroger Co. (NYSE: KR), one of the world’s major food retailers with 2750 grocery retail stores under a variety of brand names.
“AB One’s coverage includes Southern California, and Ralph’s confidence in them as an elite service provider in beverage distribution was a key element in our obtaining this authorization.”Robert Nistico, Splash Beverage Groups’s Chairman and CEO