Sonoma County’s Vintage Wine Estates plans Eastern US expansion with Ohio acquisition

Vintage Wine Estates, a locally based group of California and Pacific Northwest brands such as B.R. Cohn and Ace Cider, on Tuesday said it acquired a 120-year-old Midwest contract winery, brewery and distillery, with plans to make it an Eastern U.S. hub for production of ready-to-drink adult beverage mixes and cider.

The Santa Rosa-based company (Nasdaq: VWE) acquired Meier’s Beverage Group (Meier’s Wine Cellars Inc.) in the Cincinnati suburb of Silverton, Ohio, for $25 million split equally in cash and stock, according to the announcement and a regulatory filing. The deal also includes a $10 million earn-out clause if Meier’s pro forma earnings top current levels in the next three years.

The purchase price was valued at about eight times Meier’s 2021 adjusted earnings before interest, tax, depreciation and amortization, according to the news release.

Started in the late 1800s, Meier’s is said to be the oldest and largest winery in that state. President Paul Lux will continue to lead the company, according to Vintage. That company produces over 800,000 cases annually from three bottling lines and a beverage canning line.

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Kathleen Rhodes

Kathleen Rhodes, Founder of What's Up Santa Rosa

Kathleen Rhodes is the founder and CEO of Appy Marketing, a digital marketing agency that specializes in helping small businesses and startups grow their online presence. With over 15 years of experience in the industry, Kathleen has a proven track record of delivering successful marketing campaigns that drive results. Her passion for technology and innovation has led her to develop cutting-edge strategies that leverage the latest digital tools and platforms. Kathleen is known for her strategic thinking, creative problem-solving, and unwavering commitment to her clients’ success. Under her leadership, Appy Marketing has become a trusted partner for businesses looking to thrive in the digital age.

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