Fresh Vine Wine Inc Reaches Marketing Agreement with Splash Wines, Inc., the Highest Rated Direct-to-Consumer Digital Wine Company in the USA
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The recently announced marketing agreement between Fresh Vine Wine Inc and Splash Wines, Inc. represents a strategic partnership aimed at capitalizing on the growing demand for premium low carb wines. This collaboration aligns with consumer trends favoring healthier lifestyle choices, including lower-calorie alcoholic beverages. By leveraging Splash Wines' robust direct-to-consumer platform, Fresh Vine Wine can potentially increase its market penetration and customer base.
From a market research perspective, this partnership may enhance the visibility of Fresh Vine Wine's products, as Splash Wines has established a substantial online presence and customer trust. The synergy between Fresh Vine Wine's premium low carb wines and Splash's international selection could cater to a broader range of tastes and preferences, potentially increasing average order values and customer retention rates. It's vital to monitor the customer feedback and sales data post-implementation to assess the effectiveness of this partnership.
Investors should note the potential financial implications of this marketing agreement. Fresh Vine Wine Inc's decision to partner with Splash Wines, Inc. could lead to increased revenue streams and market share in the competitive wine industry. By tapping into Splash Wines' established digital distribution channels, Fresh Vine Wine may achieve cost-effective customer acquisition and potentially higher margins on sales due to the premium nature of their low carb wines.
It will be crucial to analyze subsequent quarterly financial reports to evaluate the impact of this agreement on Fresh Vine Wine's top-line growth and profitability. Additionally, assessing how this partnership affects the company's marketing and distribution expenses will provide insights into the long-term financial health and operational efficiency of Fresh Vine Wine.
From a health and wellness standpoint, the partnership between Fresh Vine Wine and Splash Wines taps into the increasing consumer interest in healthier alcoholic options. The emphasis on low carb wine options by Fresh Vine Wine is a strategic move that aligns with current health-conscious trends and dietary preferences. This could lead to a positive reception from a demographic that is both interested in premium wines and mindful of their health and wellness.
As consumers become more educated about the contents of their beverages, the demand for transparent and health-oriented products grows. Fresh Vine Wine's focus on low carb offerings may not only attract customers looking for healthier alternatives but also set a precedent for industry standards regarding nutritional information and product offerings in the alcoholic beverage sector.
CHARLOTTE, N.C., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Fresh Vine Wine Inc (NYSE: American VINE) today announced that it has reached a marketing agreement with Splash Wines, Inc., the highest rated direct-to-consumer digital wine company in the USA. The agreement is designed to expand purchase opportunities for customers of both companies where Fresh Vine Wines focuses on sales of premium low carb wines from California, and Splash features wine from international sources.
“This is all about the benefits to our customers. Splash is a great company with a tremendously loyal customer base as evidenced by over 29,000 five-star reviews,” states Michael Pruitt, Fresh Vine’s Chairman and CEO. “We are excited that this association will give our customers broader options to purchase quality wines at great prices.”
Garrett Imeson, Splash Chief Marketing Officer, echoed the sentiment. “Our customers have expressed considerable interest in zero sugar wines from California and, until now, we have not been able to provide suitable options. We think the Fresh Vines relationship is a great opportunity to get our customers exactly what they are looking for and are enthusiastic to start the program.”
The partnership will launch with an offer today featuring Fresh Vine Wines together with a selection from Vine Oh!, a Splash owned brand curated by women, for women that features 5-6 full-sized beauty, lifestyle and self-care products plus globally sourced wine. “This offer showcases the benefits of the relationship to customers of both companies and is the perfect way to honor Leap Day,” added Pruitt. “We expect it to be very well received.”
Vine Oh! Link: Vine Oh - Fresh Vine Wine
Fresh Vine Wines will also be hosting its Fireside Chat with Notes Live CEO JW Roth today at 2:00 PM ET. Webinar Registration Link: https://us06web.zoom.us/webinar/register/WN_72DyyGyLS6-Q4gZIG7zqog
The Merger Agreement sets forth certain conditions precedent to any closing of the Transaction, including among other things, the approval of Fresh Vine’s and Notes Live’s shareholders, the receipt of regulatory approvals that may be required, including approval by the NYSE American for the continued listing of the combined company’s common stock after closing, Fresh Vine satisfying minimum net cash requirements and having no liabilities on its balance sheet or unpaid or unsatisfied obligations that will require a cash expenditure by Fresh Vine after the Effective Time, Fresh Vine completing a sale, license, transfer, disposition, or divestiture, or winding down of Fresh Vine’s current wine production business in a manner reasonably acceptable to Notes Live, the absence of dissenting Notes Live shareholders and the entry by Notes Live into lock-up and leak-out arrangements with its shareholders to its satisfaction. There can be no assurance that the proposed Transaction will be completed as currently contemplated on anticipated timelines, or at all. Additional information about the transaction will be provided in a Current Report on Form 8-K that will be filed by Fresh Vine with the Securities and Exchange Commission (SEC) and will be available at www.sec.gov.
About Fresh Vine Wine, Inc.
Fresh Vine Wine, Inc. (NYSE American: VINE) is a producer of lower carb, lower calorie premium wines in the United States. Fresh Vine Wine positions its core brand lineup as an affordable luxury, retailing between
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified using words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements regarding the timing or nature of future operating or financial performance or other events. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Among these risks and uncertainties are those set forth in Fresh Vine’s annual report on Form 10-K for the year ended December 31, 2022, and subsequently filed documents with the SEC.
In addition to such risks and uncertainties, risks and uncertainties related to forward-looking statements contained in this press release include statements relating to the satisfaction of the conditions to and consummation of the proposed merger, the expected timing of the consummation of the proposed Transaction and the expected ownership percentages of the combined company, Fresh Vine’s and Notes Live’s respective businesses, the strategy of the combined company and its future operations. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including without limitation: (i) the risk that the conditions to the closing of the Transaction are not satisfied in a timely manner or at all, including, among others, the failure to obtain stockholder approval of matters related to the Transaction, the existence of dissenting Notes Live shareholders, or the failure by Notes Live to enter into lock-up and leak-out arrangements with its shareholders to its satisfaction; (ii) uncertainties as to the timing of the consummation of the proposed Transaction and the ability of each of Fresh Vine and Notes Live to consummate the Transaction; (iii) risks related to Fresh Vine’s ability to satisfy the minimum net cash condition to the closing of the Transaction; (iv) risks related to Fresh Vine’s continued listing on the NYSE American pending closing of the Transaction; (v) the risk that the combined company will not satisfy the initial listing standards of the NYSE American or otherwise be approved for listing on the NYSE American; (vi) the risk that as a result of adjustments to the merger exchange ratio, Fresh Vine stockholders or Notes Live shareholders could own less of the combined company than is currently anticipated; (vii) uncertainties regarding the impact of any delay in the closing the Transaction would have on the anticipated cash resources of the parties prior to closing or of the combined company upon closing and other events and unanticipated spending and costs that could reduce the parties’ cash resources; (viii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement; (ix) uncertainties regarding the terms, conditions and timing of a transaction pursuant to which Fresh Vine sells, licenses, transfers, disposes, or divests, or winds down its current wine production business, and Fresh Vine’s ability to complete such a transaction in a manner reasonably acceptable to Notes Live, (x) the effect of the announcement, pendency or completion of the proposed Transaction on Fresh Vine’s or Notes Live’s business relationships, operating results and business generally; (xi) costs related to the proposed Transaction; (xii) the outcome of any legal proceedings that may be instituted against Fresh Vine, Notes Live or any of their respective directors or officers related to the Merger Agreement or the transactions contemplated thereby; (xiii) the sufficiency of Fresh Vine’s cash and working capital to support continuing operations, to pay transaction costs through a closing of the Transaction and to satisfy the minimum net cash condition to the closing of the Transaction; (xiv) Fresh Vine’s ability to obtain additional financing when and if needed to do so, and the dilutive impact of any such financing; (xv) risks related to the impact that the reverse split of Fresh Vine’s outstanding common stock to be effected prior to closing of the Transaction may have on the trading price and volume of Fresh Vine’s common stock; (xvi) risks associated with the possible failure to realize certain anticipated benefits of the Transaction, including with respect to future financial and operating results and the ultimate success of the combined company; and (xvii) legislative, regulatory, political and economic developments, among other risks and uncertainties. A further description of the risks and uncertainties relating to the business of Fresh Vine is contained in Fresh Vine’s most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, as well as any amendments thereto reflected in subsequent filings with the SEC. Fresh Vine cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Fresh Vine’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and Fresh Vine undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or changes in its expectations.
Important Additional Information
In connection with the proposed transaction, Fresh Vine will file materials with the SEC, including a registration statement on Form S-4 (Form S-4), which will include a document that serves as a proxy statement/prospectus of Fresh Vine and an information statement of Notes Live, and other documents regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS, INCLUDING THE FORM S-4 AND THE PROXY STATEMENT/PROSPECTUS, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain the Form S4, the proxy statement/prospectus and other materials filed by Fresh Vine with the SEC free of charge from the SEC’s website at www.sec.gov or from Fresh Vine at the SEC Filings section of https://ir.freshvinewine.com/invest/.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, a public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone or internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.
Participants in the Solicitation
Fresh Vine and Notes Live and their respective directors, executive officers and other members of management may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about Fresh Vine’s directors and executive officers is available in Fresh Vine’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and its definitive proxy statement dated November 6, 2023 for its 2023 Annual Meeting of Stockholders. Other information regarding the participants in the proxy solicitation and a description of their interests in the transaction, by security holdings or otherwise, will be included in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Fresh Vine or the SEC’s website as indicated above.
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