Splash Beverage Group has executed a non-binding letter of intent for a proposed merger with cannabinoid wellness company Medterra CBD.
Financial terms of the proposed deal have not been disclosed.
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Medterra CBD produces and sells multiple brands of “federally compliant” cannabinoid wellness goods, a regulatory filing yesterday (5 March) said.
According to its website, Medterra’s product line includes CBD gummies and tinctures.
It generated more than $52m in revenue in fiscal 2025 and serves over two million customers in the US and international markets.
In yesterday’s filing, Splash described the proposed transaction as a “transformative step” towards building a “growth-oriented platform focused on cannabinoid wellness, regulated consumer health, and scalable brand development through the curation of an established house of brands”.
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By GlobalDataJust Drinks has asked both companies to confirm if the proposed merger means Splash is exiting beverages and whether it would be looking for buyers for its drinks assets.
Splash Beverage board member Brady Cobb said: “This proposed combination represents more than a transaction – it marks the beginning of a new chapter for Splash as we evolve into a platform company built for the future of cannabinoid wellness.
“By partnering with a proven operator like Medterra and leveraging our access to public markets, we intend to build a scaled, disciplined organisation positioned to lead through the next phase of industry development.”
Splash presented the move as “a strategic realignment as a public cannabinoid wellness platform”, and noted the move “aligns with increasing regulator clarity and growing institutional interest in federally compliant cannabinoid products, including ongoing federal policy developments related to hemp, CBD and cannabis rescheduling”.
In December, President Trump signed an executive order to reclassify medical marijuana as a drug in the same category as painkillers, which could open up opportunities for CBD and hemp-derived food and drink products.
The executive order also included a cannabinoid pilot initiative for CBD that is being evaluated through the Centers for Medicare & Medicaid Services (CMS).
The companies plan to participate in the CBD pilot initiative under review by CMS, Splash’s regulatory filing said.
In November, the Chispo Tequila producer expanded into hemp-THC drinks through a new joint venture with BAAD Ventures, owner of Nimbus THC flavoured seltzers.
Subject to completion of the transaction and required approvals, MedTerra CEO JP Larsen is expected to join Splash’s board and take on a senior operating leadership role.
Larsen said: “Together, we intend to build one of the leading compliant wellness platforms in the sector, expanding our reach while maintaining the quality, science, and trust that define our brands.”
