Bacchus Capital Management Provides Growth Capital for Wine by Joe Wine Industry Investment Firm Announces Deal with Leading Oregon Wine Producer
SAN FRANCISCO, Sept. 8, 2011 /PRNewswire/ -- Bacchus Capital Management, LLC, a San Francisco-based investment firm focused on providing strategic capital and making private equity investments in the wine industry, has provided growth and refinancing capital to Wine by Joe, one of the most prominent wine producers in Oregon. The capital infusion will allow Wine by Joe to expand its national and international distribution. This agreement represents Bacchus' first investment in an Oregon wine producer.
"Wine by Joe is at a turning point, as a business and a brand," stated Joe Dobbes, Founder, President and Winemaker. "I started this company nearly 10 years ago, with only $50,000 and a deep passion for winemaking, which will never fade. Today, Wine by Joe is the 2nd largest wine producer in the state, employing a team of nearly 50 dedicated and hard-working individuals. We're proud of the relationships we have developed and the reputation we've earned."
"Working with the team at Bacchus will provide us with the working capital needed to substantially grow our own three brands, Dobbes Family Estate, Wine by Joe, and Jovino, as well as our custom winemaking, bulk wine and control label business," Dobbes continued. "The Bacchus expertise, in all aspects of the wine business, combined with sufficient capital, will enable us to take the company to the next level."
"Joe Dobbes has had a great track record; his success and impact on the Oregon wine industry is well recognized," stated Sam Bronfman II, Co-Founder and Managing Partner of Bacchus. "Wines from Oregon as a whole have been growing significantly, as markets and consumers continue to become aware of their quality and value. We are pleased to work with an innovator and leader in the field, and look forward to a long and productive partnership."
"The financing for Dobbes is right in the Bacchus wheelhouse," commented Peter Kaufman, Co-Founder and Managing Partner of Bacchus Capital Management. "The opportunity to bring our flexible financing, long-standing distribution relationships and direct-to-consumer expertise to Joe, his team, and the Oregon market is very appealing to us. In particular, we are proud to be associated with Joe Dobbes and his world-class pinot noirs and pinot gris wines."
"We are eager to leverage the strategic capital and relationship Bacchus is providing," commented Dobbes. "As an entrepreneur, and a winemaker, I have always had big dreams and big goals. Now we're uniquely positioned to compete with the major players in the industry and provide our employees with a very bright future."
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. The company is solely owned by Joe Dobbes. For more information, visit the web site: www.joedobbeswines.com.
About Bacchus Capital Management
Bacchus Capital Management is an investment and advisory firm co-founded in 2007 by Sam Bronfman II, Peter S. Kaufman and Henry F. Owsley providing strategic capital and making equity investments in United States wineries and wine businesses. Quinton Jay and Rob Rupe are the Managing Directors. Bronfman and Jay bring extensive wine industry experience through leadership positions at Seagram Chateau and Estate Wines, Diageo Global Wines, Artesa Vineyards and Winery, Etude, Quintessa and Bonny Doon Vineyard. Kaufman and Owsley are leading investment bankers specializing in credit analysis, valuation and restructuring. For more information, visit www.bacchuswinefund.com.
SOURCE Bacchus Capital Management, LLC