Winery company Vintage Wine Estates has announced the acquisition of Meier’s Wine Cellars, doing business as Meier’s Beverage Group.
Founded in 1895, Meier’s is a leading producer, bottler, importer, and marketer of specialty beverage alcohol and non-alcohol products. The company owns a bonded winery, brewery, and distilled spirits plant with processing, blending and bottling capabilities for a broad variety of beverage alcohol and non-alcoholic products, including three bottling lines and a state-of-the-art beverage canning line that produces over 800,000 cases annually.
Meier’s generated around $18 million in revenue last year, and the acquisition was valued at approximately eight times more than Meier’s adjusted EBITDA.
“Vintage Wine Estates has a longstanding relationship with Meier’s and has been a spirits client for many years. We know their operation to be among the most well-managed in the business,” commented Pat Roney, CEO of Vintage Wine Estates. “We are particularly excited about their expertise in ready-to-drink (“RTD”) wine and beverage alcohol production and plan to expand our RTD production, including Ace Cider products, at their facility.”
Source: Business Wire