- Vintage Wine Estates (VWE.U) has acquired The Sommelier Company, a global provider of wine and spirits expertise, private tastings and education
- The consideration is approximately US$8 million, plus an earn-out tied to future performance of the company
- The Sommelier Company’s fiscal year 2020 net revenue exceeded $5 million with an adjusted EBITDA margin greater than 60 per cent
- The Sommelier Company will offer VWE wines, as well as corporate gifts and concierge-level service and events at VWE wineries
- Vintage Wine Estates is a family of wineries and wines throughout Napa, Sonoma, California’s Central Coast, Oregon and Washington State
- Vintage Wine Estates (VWE.U) is up by 2.01 per cent and is currently trading at $11.65 per share
Vintage Wine Estates (VWE.U) has acquired The Sommelier Company, a global provider of wine and spirits expertise, private tastings and education.
The consideration is approximately US$8 million, plus an earn-out tied to future performance of the company.
The Sommelier Company’s fiscal year 2020 net revenue exceeded $5 million with an adjusted EBITDA margin greater than 60 per cent.
The acquisition will enhance Vintage Wine Estates’ direct-to-consumer channel, which represents 30 per cent of the company’s net revenue.
The Sommelier Company will offer a selection of Vintage Wine Estates wines, including custom labels and etched bottles from Windsor Vineyards. It will also offer corporate gifts and concierge-level service and events at Vintage Wine Estates wineries.
Sommelier Company founder Joey Kleinhans will continue to direct the company. He previously founded The Council of Whiskey Masters and held the roles of Vice President at PIMCO and Investment Analyst and Portfolio Manager at INVSCO and KPMG.
Pat Roney, CEO of Vintage Wine Estates, commented,
“The Sommelier Company will add considerable reach to our direct-to-consumer and business-to-business customer base. We believe the acquisition will provide additional revenue and a strong adjusted EBITDA contribution.”
Vintage Wine Estates is a family of wineries and wines throughout Napa, Sonoma, California’s Central Coast, Oregon and Washington State.
Vintage Wine Estates (VWE.U) is up by 2.01 per cent and is currently trading at $11.65 per share as of 10:18 am ET.
