USA: Vintage Wine Estates to buy Meier’s Beverage Group

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