Welcome to our dedicated page for Vintage Wine Estates news (Ticker: VWE), a resource for investors and traders seeking the latest updates and insights on Vintage Wine Estates stock.
Vintage Wine Estates, Inc. (VWE) is a distinguished collection of vintner family-owned winery estates and brands headquartered in Santa Rosa, California. As an industry leader, Vintage Wine Estates excels across all sales channels, offering wine consumers a diverse range of selections priced from $10 to $150. The company’s portfolio includes renowned wineries such as Clos Pegase, Cosentino Winery, Girard Winery, Viansa Sonoma, Windsor Vineyards, B.R. Cohn Winery, Cartlidge & Browne, Sonoma Coast Vineyards, Ray’s Station, Swanson Winery, Cameron Hughes Wines, Middle Sister, Wine Sisterhood, Pro-mis-Q-ous, Monogamy, Girl & Dragon, Purple Cowboy, and several exclusive wine brands.
Vintage Wine Estates is committed to delivering exceptional customer service, which is a core aspect of their corporate culture. This dedication extends to both external and internal customers, ensuring a seamless and enjoyable experience for all. The company prides itself on being a dynamic and growing organization, valuing entrepreneurial spirit and collaborative teamwork.
The company's operations span across prominent wine-producing regions including Napa, Sonoma, California's Central Coast, Oregon, and Washington State. This extensive reach enables Vintage Wine Estates to produce top-quality wines and create unforgettable customer experiences.
In recent years, Vintage Wine Estates has continued to grow by focusing on strategic partnerships, innovative projects, and maintaining robust financial health. Despite being privately held, the company's performance in the wine industry is notable, and it remains a sought-after name among wine enthusiasts and investors alike. For more information or to explore career opportunities, visit Vintage Wine Estates Careers.
Vintage Wine Estates (VWE) announced the acquisition of Vinesse, LLC, a direct-to-consumer wine club platform with over 60,000 members, for approximately $14 million in cash and a potential $2.5 million earnout. This strategic acquisition aims to enhance VWE's direct-to-consumer capabilities and generate significant cost synergies by integrating Vinesse’s operations. VWE expects the acquisition to lower Vinesse’s current EBITDA multiple from 12x to under 5x within the first year. With Vinesse's contribution of around $20 million in revenue, this move is part of VWE's ongoing growth strategy.
Vintage Wine Estates (VWE) reported robust growth in fiscal 2021, achieving $4.1 million in net income and surpassing revenue targets. The company expanded its bottling capacity to over 13.5 million cases annually and shipped 1.9 million cases in premium segments. Completed acquisitions of Kunde Family Winery and The Sommelier Company bolster its multi-channel marketing strategies. With $234 million in liquidity, VWE remains well-positioned for future expansion, reaffirming over 35% pro forma adjusted EBITDA growth guidance for fiscal 2022.
Vintage Wine Estates, Inc. (NASDAQ: VWE) reported a preliminary fourth quarter revenue of $57 million, marking a 37% increase year-over-year. Fiscal year 2021 preliminary revenue reached $221 million, up 16% from the previous year. The company has postponed its earnings release to September 28, 2021, to finalize yearend financials due to personnel issues and an untimely staff passing affecting their finance department. They anticipate updating investors on strategic progress during the conference call scheduled for September 29, 2021.
Vintage Wine Estates (NASDAQ: VWE) announces the appointment of Russell G. Joy as Chief Operating Officer, effective November 1, 2021. Joy succeeds Jeff Nicholson, who retires on October 29, 2021. With over 20 years of wine industry experience, Joy previously held key roles including General Manager at Napa Wine Company and VP of California operations for Ste. Michelle Wine Estates. CEO Pat Roney highlighted Joy's operational and financial expertise as crucial for the company's growth strategy as VWE continues to expand its direct-to-consumer and wholesale operations.
Vintage Wine Estates (NASDAQ: VWE) has become a founding member of the Sustainable Wine Roundtable (SWR), a coalition aimed at promoting sustainability in the wine industry. This initiative includes over 40 leaders from various sectors, including producers, retailers, and environmental organizations. Erica Landin-Lofving, Chief Sustainability Officer at VWE, emphasized the importance of defining sustainable wine production. The SWR aims to develop global standards and best practices for sustainability, benefiting both wineries and consumers by clarifying eco-labels and sustainability measures.
Vintage Wine Estates (NASDAQ: VWE) has announced a conference call set for September 22, 2021, at 4:30 PM ET to discuss its Fourth Quarter and Fiscal Year 2021 financial results. Investors can join via phone at 844-200-6205 or 646-904-5544 using access code 925261, or through a live webcast available on the Company’s Investor Relations website. Founded 20 years ago, VWE has emerged as a top U.S. wine producer, selling over 2 million nine-liter equivalent cases annually, thanks to an effective omni-channel strategy.
Team, Inc. (NYSE: TISI) has appointed Candice Koederitz to its Board of Directors, effective August 9, 2021. With over 30 years at Morgan Stanley, including leadership roles in capital markets and regulatory implementation, Ms. Koederitz enhances the board's expertise. Amerino Gatti, CEO, expressed enthusiasm for her insights during a time of emerging opportunities. Koederitz currently serves on other boards, including Vintage Wine Estates (NASDAQ: VWE). This appointment reflects Team's commitment to broadening its leadership capabilities to navigate dynamic market conditions.
Vintage Wine Estates (NASDAQ: VWE) announced its participation in the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021. The event will include a fireside chat at 3:30 p.m. Eastern Time, which will be webcast live and available for replay. VWE, recognized as one of the fastest-growing U.S. wine producers, sells over 2 million nine-liter equivalent cases annually and operates a direct-to-consumer sales platform. The company’s diverse portfolio includes over 50 brands, with retail prices primarily ranging from $12 to $20.
Vintage Wine Estates (VWE) announced the acquisition of The Sommelier Company for approximately $8 million. This strategic move aims to enhance VWE's direct-to-consumer sales, which constitute 30% of its net revenue. The Sommelier Company generated over $5 million in net revenue in FY 2020 with an Adjusted EBITDA margin above 60%. The acquisition, expected to be accretive to earnings, will boost VWE's customer outreach through unique wine experiences and consulting services, leveraging The Sommelier Company’s established market presence.
Vintage Wine Estates (NASDAQ: VWE) announces significant leadership appointments, enhancing gender diversity with over 50% of director positions held by women. New roles include Jessica Kogan as Chief Marketing Officer, Erica Landin-Löfving as Chief Sustainability Officer, Holly Hawkins as Vice President of Human Resources, and Mary Ann Vangrin as Vice President of Communications. These appointments aim to drive growth and sustainability initiatives, reinforcing VWE's commitment to gender equality and enhancing its direct-to-consumer strategy.
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