Foley Takes Stake In California DistributorAugust 27, 2013
Foley Family Wines chairman Bill Foley has reportedly agreed to acquire a minority stake in Capitola, California-based wine wholesaler Epic Wines. Under the deal, reported by the Santa Rosa Press Democrat and expected to close by September 1, Epic will distribute around 150,000 cases of wines from the Foley stable. Foley’s current California wholesaler, Young’s Market, will also continue to handle part of the portfolio.
Foley said the deal will give him more control over where his wines are sold. Epic’s other suppliers include Michel-Schlumberger, Cecchetti Wine Co. and Schug Carneros Estate among others.
In an exclusive interview with SND earlier this summer, Foley said he’s been ramping up focus on the national chain retail business this year. “Starting January 1, we dedicated three individuals to focus on national retail chains like Safeway and Kroger. We’re now really trying to penetrate that part of the market, with multiple SKUs in each account. By this summer and into fall, we’ll be well-positioned to start driving our chain business,” he said.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.