Bacchus Capital Management provides follow-on growth capital to Wine by Joe
Bacchus Capital Management, 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 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, 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," says Dobbes. "I started this company 10 years ago with USD50,000 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," adds 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."
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