Vintage Wine Estates’ Annual Revenues Approach $300 MillionSeptember 15, 2022
Santa Rosa, California-based Vintage Wine Estates saw revenue grow 33% to $294 million in its fiscal year through June, as adjusted EBITDA rose 21% to $47 million. The sales gains were driven by higher volume in wholesale, strength in DTC, and the contribution of bulk alcohol sales in B2B, as well as by acquisitions, which generated $32 million in net revenue for the year. Vintage Wine’s recent purchases have included Vinesse, Ace Cider, and Meier’s Wine Cellars.
“We are excited about the strength of our channels to market, the power of our brands, and our digital marketing capabilities,” said CEO Pat Roney. “We are actively advancing our acquisition pipeline and believe that fiscal 2023 will be another strong year for VWE as we transform the company into a much larger, more significant player in the wine industry.”
Looking ahead, Vintage Wine is expecting its fiscal 2023 revenues to register approximately $300 million to $310 million, with adjusted EBITDA of approximately $55 million to $65 million, excluding any future acquisitions.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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