News Briefs for January 23, 2015January 23, 2015
•Connecticut-based wine importing, marketing and distribution firm Votto Vines will release a new single-serve wine brand, Vinaago, in the Northeast and Southeast this winter ahead of an eventual national rollout. Vinaago includes Cabernet Sauvignon, Chardonnay and Moscato varietals (to be joined by a rosé to debut in the spring) retailing around $2.99 each and packaged in a 187-ml. recyclable plastic package. In addition to Vinaago, Votto’s portfolio includes a range of imported estate wines as well as several private-label offerings. The company had sales of $6 million in 2014.
•Dollar Tree Inc. looks set to finalize its pursuit of fellow discount retailer Family Dollar Stores Inc., as shareholders of the latter company voted decisively to accept Dollar Tree’s $8.7 billion acquisition offer. The vote frustrated the efforts of a third retail chain, Dollar General, which had also lodged a bid for Family Dollar. Family Dollar’s board preferred Dollar Tree’s $8.7 billion offer to Dollar General’s higher $9.1 billion bid because it feared greater antitrust issues related to the latter, the Wall Street Journal reported. The combined Dollar Tree and Family Dollar intends to keep both brands and their respective models, which account for more than 13,000 stores. Dollar General has nearly 12,000 stores. The move comes as dollar stores have been ramping up their beverage alcohol activities in recent years.
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