NexPhase Capital, LP (“NPC,” “NexPhase” or the “Firm”), an operationally-focused private equity firm, announced it has closed its investment in Oliver Wine Company, Inc. (“Oliver Winery,” or the “Company”).
Founded in 1972, Oliver Winery is now one of the largest wineries in the U.S. with over 700,000 cases sold in 2020. Oliver Winery’s high-quality, innovative and consumer-focused approach to winemaking continues to attract new fans across the U.S. with products such as Oliver Blueberry Moscato. Boosted by its enhanced footprint, increased points of distribution and partnerships with national retailers, Oliver Winery finished 2020 with 40% year-over-year growth.
The Company is poised to continue its rapid growth and innovation with the commitment of Oliver Winery’s existing employees and NexPhase’s financial support and industry expertise. Founding family member Bill Oliver, who will remain deeply involved with the company on the board of directors, said, “We have an incredible, dedicated team, and together we’ve grown Oliver Winery into a national, respected brand,” said Oliver. “NexPhase is a dream-come-true new partner. They’re smart, good people, who will bring even better resources to the table. We couldn’t be more excited about what’s next.”
“It’s always been a point of pride for us that the winery’s success benefits our hardworking, loyal employees,” said Oliver Winery CEO Julie Adams. “I am confident that this transaction will benefit all of our stakeholders, including our customers and especially our employees. This is the beginning of a new, exciting chapter for our team, and we are thrilled to continue to build on our strong foundation with the support of NexPhase.”
Jamie Kaufman, a Partner at NexPhase, said: “NexPhase is committed to protecting and nurturing the exceptional company culture and brand that has made Oliver Winery a leader and innovator in the wine industry. We look forward to partnering with the Oliver Winery team to support their industry leading growth and intend to continue to invest in their facility in Bloomington, Indiana.” Oliver Winery’s headquarters, including its world-class tasting room and winemaking, will remain in Bloomington, Indiana.
Kaufman and NPC Operating Partner Doug Corbett will join the company’s board of directors. Kaufman leads the Firm’s consumer investing practice and Corbett brings nearly 30 years of consumer operating experience growing and optimizing branded businesses in the U.S., Western Europe and Canada. The NexPhase consumer team focuses on investing in branded CPG companies, including Zing Zang, the leading non-alcoholic cocktail mix brand in the U.S.
About Oliver Winery & Vineyards
Founded in 1972, Oliver Winery continues to innovate in the industry, with fruit-forward, low-ABV wines, such as its Blueberry Moscato — in the top 15 Moscato wines sold in the U.S. in 2020. Oliver Winery’s continued success in the sweet wine market has also been driven by its Soft Wine Collection, specifically Oliver Sweet Red, which has been the #1 selling wine in Indiana and a top-seller in the U.S. for the last 20 years. With its strong growth, Oliver Winery was named a “Impact HOT Brand” by Shanken’s Market Watch and is one of Nielsen’s top 25 fastest growing U.S. wineries in 2020. Oliver Winery is now the 29th largest winery in the U.S. by total case sales according to Wine Business Monthly, and Travel + Leisure included OliverWinery in the top 25 wineries to visit in the U.S. Visit oliverwinery.com for more information.