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News Briefs for January 19, 2022

January 19, 2022

•Santa Rosa, California-based Vintage Wine Estates has acquired Meier’s Beverage Group, located in Silverton, Ohio. Meier’s is a producer, bottler, importer, and marketer of specialty beverage alcohol products that provides custom blending, contract storage and manufacturing, and private labeling for wine, beer, and spirits. It owns a bonded winery, brewery, and distilled spirits plant consisting of three bottling lines and canning line that produces over 800,000 cases annually. The newly acquired company generated approximately $18 million in revenue last year. The purchase price was not disclosed but was specified as approximately eight times Meier’s 2021 adjusted EBITDA. Vintage Wine plans to leverage its central Midwest location for rapid distribution point expansion for Vintage products like Ace Cider, which it acquired in November.

•Breakthru Beverage Group has named Chad Stone as vice president, business transformation and new frontiers. Stone has led the commercial excellence team at Breakthru since its inception in 2016 and has played a critical role in developing the distributor’s commercial capabilities and sales solutions, according to the company. In his new role he’ll focus on new and emerging areas of growth, as Breakthru aims to leverage rapidly developing trends such as omni-channel purchasing, next-generation e-commerce, direct-to-consumer solutions, CBD beverages, corporate venture capital initiatives and others.

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