Bacchus Capital Management Provides Follow-on Growth Capital to Wine by Joe Leading Oregon Wine Producer Adds Anthony Van Nice as Chief Operating Officer
SAN FRANCISCO, Feb. 7, 2013 /PRNewswire/ -- Bacchus Capital Management, LLC, a San Francisco-based private equity firm providing strategic capital in the wine industry, has made a follow-on investment in Wine by Joe, one of Oregon's largest and most prominent wine producers. This capital infusion enables Wine by Joe to further expand its national and international distribution, as well as build inventory and infrastructure. Concurrently, Wine by Joe has added Anthony Van Nice, an industry veteran with a track record of success, to the position of Chief Operating Officer. Van Nice will be responsible for all business operations of the winery including the development and implementation of the company's sales, marketing and strategic plans. He will work closely with Joe Dobbes, Founder, President and Winemaker.
"Bacchus continues to back a winner; we're proud of their continued support and partnership," stated Joe Dobbes. "I started this company 10 years ago with $50,000 and a deep passion for winemaking. Today, we're one of the largest wine producers in the state. A deeper relationship with Bacchus enhances our resources and the industry expertise we need to support our own three brands, Dobbes Family Estate, Wine by Joe and Jovino, as well as our custom winemaking, bulk wine and control label business. Adding Anthony to our team clearly illustrates where this company is headed and shows that we've got what it takes long term. He joins Gretchen Boock, my first employee and now our GM, at the helm, which enables me to truly focus on my passion – winemaking, vineyard operations, and promotion of the company."
"The Bacchus/Wine by Joe partnership demonstrates the opportunity we can provide to partner with winemakers and/or family-owned wineries in need of capital today, a groundbreaking opportunity that traditional sources in the wine space cannot provide," commented Peter Kaufman, Co-Founder and Managing Partner at Bacchus. "Our portfolio companies benefit from our unique proposition: pairing our flexible capital and deep understanding of the wine business with their exceptional talent and reputation, a win-win for everyone. Our commitment to partnering with Joe long term demonstrates the new model we have built in a very dynamic industry."
"Anthony has the right mix of skills and abilities, as well as the Oregon experience, to help Wine by Joe continue our momentum and to grow our business to its next level. His accomplishments as President of The Four Graces are well recognized," commented Joe Dobbes, Founder, President and Winemaker. "Given the opportunities and resources we have today, Anthony is an ideal addition to our team. I look forward to working with him as we continue to make great wine. "
"Joe has made a significant impact on the Oregon wine industry; we're proud of his accomplishments and his aspirations," commented Sam Bronfman II, Co-Founder and Managing Partner of Bacchus. "Wine by Joe was recognized by Wine Business Monthly as the #1 Hot Small Brand of 2011 and has been a Bacchus portfolio company since September 2011. We look forward to further developing our successful and exciting partnership, and to working with Anthony, Gretchen and Joe."
"I'm at the right place, at the right time," commented Van Nice. "Working with Joe, the team at Dobbes and Bacchus are an ideal fit."
Bacchus portfolio companies comprise: Sbragia Family Vineyards, the Dry Creek Valley winery founded by world-class winemaker Ed Sbragia; Andretti Winery, a well-known Napa winery founded by Mario Andretti; Pietra Santa, a Central Coast winery; Qupe, a leading Central Coast winery; and Wine by Joe. The Company previously had a successful financing with Cameron Hughes Wine, one of America's fastest growing wine businesses.
About Wine by Joe
Joe Dobbes, an Oregon native, has built a thriving business by combining knowledge gained through invaluable apprenticeships in France and Germany and the experience of over 25 years of winemaking. In 2001, Dobbes launched Wine by Joe, a multi-tiered business based in Dundee, Oregon. Recognized for the elegance and craft of his wines, Dobbes is now one of the largest producers in Oregon with 214 acres of estate vineyards. While an industry leader in custom winemaking and bulk wine production, Dobbes' focus is on crafting traditional Burgundian style wine under his three different brands: Dobbes Family Estate, the luxury Pinot Noir label; Wine by Joe, a value-priced Oregon appellation label, and Jovino, an offering available on-premise. For more information, visit: www.joedobbeswines.com.
About Bacchus Capital Management
Bacchus Capital Management is an investment firm providing strategic capital and making equity investments in United States wineries and wine businesses. For more information, visit www.bacchuswinefund.com.
SOURCE Bacchus Capital Management, LLC