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AGR Partners invests in Vintage Wine Estates

Published 13 April 2018

Davis, California-based AGR Partners has provided a growth capital via a minority equity stake in Vintage Wine Estates.

Vintage Wine Estates CEO and president Pat Roney said: "We are delighted to enter into a partnership with AGR Partners.

"They understand the agricultural nature of our business and are fully on-board with our growth and long-term acquisition strategy."

Already on a rapid-growth trajectory, the $75m investment by AGR and existing shareholders will help support future winery and brand acquisitions and expansion-related production efficiencies.

Recent Vintage Wine Estates acquisitions include Tamarack Cellars (Washington State), Firesteed Vineyards, (Oregon), and the California brands Layer Cake, Cherry Pie and If You See Kay. Over the past several years, Vintage Wine Estates added Cameron Hughes, B.R. Cohn Winery, Swanson Vineyards and Delectus to its growing portfolio of brands and estates.

Vintage Wine Estates was founded in 2008 when Pat Roney, owner of Napa Valley's Girard Winery, purchased Sonoma's Windsor Vineyards, the wine industry's first direct-to-consumer brand. Today, Vintage Wine Estates produces close to 2 million cases, owns a collection of wineries and estates, consumer and exclusive wine brands. Vintage Wine Estates markets and sells their wines across multiple channels, including wholesale, direct-to-consumer, tasting rooms, wine clubs, internet, telesales and television.

AGR Partners CEO Ejnar Knudsen said: "We are excited to partner with Pat Roney and the Vintage Wine Estates team to support their growth plans. 

"We look to make long-term investments to support best in class businesses with great partners; our investment in Vintage Wine Estates aligns closely with this goal." 

AGR Partners' portfolio of investments in food and agribusiness companies includes Almark Foods, Ridley, Opal Foods, SEMO Milling, 3D Corporate Solutions, Icicle Seafoods and Tru-Test Group. 

Source: Company Press Release