Vintage Wine Estates acquires Willamette Valley's Firesteed Cellars

Vintage Wine Estates announced today the purchase of its first fine wine brand from OregonFiresteed Cellars of the Willamette Valley. Firesteed, a 50,000 case brand, is noted for award-winning Pinot Noir and Pinot Gris, Oregon's signature varietal wines. The purchase comes on the heels of a robust and diverse acquisition streak over the past 24 months including: Napa Valley's Delectus Winery, Splinter Group Spirits, and most recently, Cameron Hughes Wine. VWE also acquired the distribution rights to Clayhouse Wines from Paso Robles, Washington State's Buried Cane and from Argentina, Gouguenheim Winery.

"I'm a long-time fan of Oregon wines and have been looking for an opportunity in the region for some time," explained Pat Roney, President and CEO of Vintage Wine Estates. "I see the interest in wines from the Northwest continue to trend strongly and am thrilled to add Firesteed to our portfolio."

Vintage Wine Estate's growth strategy consists of creating and bringing original new brands to market, adding respected, established wines to the portfolio through acquisition, and organic growth fueled by the company's existing portfolio which includes signature brands such as B.R. Cohn Winery, Clos Pegase, Swanson, Delectus, Windsor Vineyards and Middle Sister Wines.

"This formula seems to be working well for us," explained Roney. "We have particular expertise in brand creation and taking new brands to market at a rapid pace. We also understand the importance of proven wine brands with a track record of excellence and awareness among both trade and consumers."

Firesteed will continue to source fruit under long-term lease agreements at the 90-acre Firesteed Estate Vineyard and the 202-acre Erratic Oaks Vineyard in nearby Dallas, Oregon, both certified sustainably farmed.

Firesteed Founder Howard Rossbach will retain the Citation brand and the Erratic Oaks Vineyard.

Exvere, Inc. served as the exclusive financial advisor to Firesteed Cellars.

About Vintage Wine Estates

Vintage Wine Estates is a privately held wine company owned by a group of vintner families with deep roots in the wine business. The families own a collection of winery estates and brands including Clos Pegase Winery, Cosentino Winery, Girard Winery, B.R. Cohn Winery, Swanson Vineyards, Viansa Sonoma, Windsor Vineyards, Cartlidge & Browne, Sonoma Coast Vineyards, Middle Sister, Tall Dark Stranger, Pro-mis-Q-ous, Monogamy, Girl & Dragon, Purple Cowboy and a number of exclusive wine brands. Vintage Wine Estates is a majority partner in Splinter Group Spirits, producing craft Kentucky whiskey (Straight Edge) and American whiskey (Slaughter House) and markets Clayhouse and Buried Cane wines. An industry leader across all sales channels and dedicated to providing wine consumers with a range of wines from $10 to $100 dollars, Vintage Wine Estates produces outstanding wines from Napa, Sonoma, Mendocino and other premium California winegrowing regions and respects the way people buy their wineat wineries, at retail, on the telephone, on television, on the Internet and by mail.
www.vintagewineestates.com

About Citation and Howard Rossbach

Howard founded Firesteed Cellars in 1992, originally coining the term "virtual winery" to describe the brand's commitment to consistent quality without the overhead of a vineyard or production facility. In the ensuing years, the winery (2002) and vineyard land (2006) were purchased and the ultra-premium line of Citation wines was added. Rossbach has been active in leadership of the Oregon Wine industry, having served as Vice President of the Oregon Wine Growers Association and President of Oregon Pinot Camp. He is currently President of the Northwest Wine Coalition.

About Exvere

Exvere advises Pacific Northwest businesses on capital transactions including mergers, acquisitions, and recapitalizations. Exvere offers concentrated experience and expertise in the Pacific Northwest wine and adult beverage industry. For more information about Exvere please visit www.exvere.com.

SOURCE Vintage Wine Estates

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