Splash Beverage strikes JV to enter hemp-THC drinks

Core Insights - Splash Beverage Group has entered the hemp-THC drinks market through a joint venture with BAAD Ventures, which owns Nimbus THC flavored seltzers [1][3] - The joint venture structure allocates 51% ownership to Splash and 49% to BAAD [1] - Recent legislation in the US has imposed stricter regulations on hemp-THC drinks, prohibiting products with THC content exceeding 0.3% and final goods with more than 0.4mg of THC per container [2] Company Developments - The partnership aims to leverage complementary strengths to accelerate growth in the dynamic beverage segment [3] - Nimbus is set for rapid expansion into six additional states in the US due to this collaboration [4] - BAAD Ventures has reported that Nimbus has shown exceptional early performance across various retail formats [2][4] Strategic Goals - The joint venture plans to create a vertically integrated platform to enhance supply-chain efficiencies and manufacturing capabilities [5] - Splash Beverage is expected to contribute brand-building expertise and established distribution networks to the venture [4][5] - The THC beverage category is experiencing rapid growth, and this partnership positions the companies ahead of market trends [5][6]