Exclusive news and research on the wine, spirits and beer business

News Briefs for September 29, 2021

September 29, 2021

•California-based winery Winc has filed to go public in an IPO intended to raise up to $75 million. Winc produces and sells wine directly to its list of 120,000 monthly members, and also through the three-tier system, with a presence in 7,700 wholesaler serviced accounts. Brands include Summer Water, Folly of the Beast, Lost Poet, The Wonderful Wine Co., and Cherries & Rainbows. With volume of 430,000 cases in 2020 and $71 million in revenue in the 12 months through June, Winc says it’s among the fastest-growing at-scale wineries in the U.S., and is well-positioned amid the shift to e-commerce, with its data-rich direct relationship with consumers allowing it to quickly ascertain the potential of newer brands and then scale the most promising ones through its wholesaler network. The company says its goal is to continue growing its member base and extend its presence to 50,000 retail accounts in the next half-decade.

•Wild Turkey has announced Master’s Keep One, the sixth release in the distillery’s limited edition Master’s Keep series. The latest release blends whiskies aged between eight and 10 years with an older, 14-year-old Bourbon, in a collaboration that blends the preferences of master distillers Jimmy and Eddie Russell. Jimmy favors 8-10-year-old Bourbon, while Eddie prefers slightly older whiskies. Following the initial blending, the combined whiskies matured for a second period in new toasted and charred oak barrels. Master’s Keep One is bottled at 50.5% abv and is available for a limited time in select retailers across the U.S. for a suggested price of $175. Last year, the brand, which is part of the Campari America portfolio, reached 810,000 cases, up 15%, according to Impact Databank.

•E-commerce retailer ReserveBar has named Brian Mehta as CMO. He joins the company from Trading Technologies, where he spent six years as CMO and guided a significant rebrand and corporate transformation. Prior to Trading Technologies, Mehta worked as head of North American marketing at Motorola Mobility. At ReserveBar, Mehta will be responsible for the company’s marketing strategy, including management of Spirited Change, a program aimed at supporting women- and POC-owned brands. Southern Glazer’s took an undisclosed stake in ReserveBar earlier this year, and industry veteran Jim Clerkin was recently named chairman of the company.

•Gatlinburg, Tennessee’s Ole Smoky has expanded distribution for two moonshine liqueurs, previously distillery exclusives, bringing them to statewide distribution. The pair—White Chocolate Strawberry Cream and Banana Pudding Cream—come in at 17.5% abv and are made with a blend of Ole Smoky’s moonshine and cream. While distribution is currently only expanding to Tennessee, Ole Smoky is planning a further expansion for the releases in 2022. Last year, Ole Smoky reached 550,000 cases in the U.S., according to Impact Databank.

•Riboli Family Wines has named Susan Doyle as vice president of vineyards and winemaking, a new role at the company. A 30-year industry veteran, Doyle was most recently vice president, operations and winemaking for Quails Gate Winery and West Coast Partners and prior to that served with Diageo Chateau & Estate and MacMurray Ranch among others. In her new role she will be responsible for overseeing vineyard and winemaking planning, implementation, and winemaking and vineyard operations for all Riboli brands produced in California.

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