Splash Beverage Group, the owner of Chispo Tequila, has signed a letter of intent to acquire and merge with cannabidiol product manufacturer Medterra CBD.
Florida-based Splash, which as well as Chispo also owns the Nimbus THC Soda brand, outlined its intentions in an SEC filing this week. Financial details of the proposed “business combination” were not disclosed.
If the transaction is successful, Medterra founder JP Larsen will join the board of directors of the combined company “and assume a senior operating leadership role”.
California-headquartered Medterra produces CBD and THC-based products such as tablets and tinctures. In 2025, Medterra generated “over US$52m” in sales and “was profitable”, Splash said.
Sharing some of its reasoning for the deal, Splash said the proposed move marks its ambition to evolve “into a platform company built for the future of cannabinoid wellness”. The group cited an unreferenced estimate that the US “cannabinoid wellness” market could exceed US$30bn – in an unspecified timeframe – “should federal reform and reimbursement frameworks advance”.
In a supporting statement, Splash added that “additional details regarding the company’s rebranding and strategic evolution will be announced in due course”.
“We believe the industry is approaching a period of significant growth driven by regulatory progress, increasing consumer adoption, and institutional engagement,” said board member Brady Cobb.
“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. We look forward to sharing further updates on leadership, rebranding, and the detailed path forward in short order.”
In other US M&A news this week, the owner of Four Loko, Phusion Projects, is reportedly considering a divestment of the RTD brand it created in 2005.
