Vintage Wine Estates Advances Leadership Team
INCLINE VILLAGE, Nev.--(BUSINESS WIRE)--Jan 12, 2023--
Vintage Wine Estates, Inc. (NASDQ: VWE), a fast growing wine producer with an industry leading direct-to-customer platform, today announced two promotions that further its efforts to advance its leadership team, develop talent from within and build greater bench strength. Zach Long, previously Senior Vice President of Winemaking and Production, will now serve as Chief Operations Officer and Jenna Duran, formerly Senior Director of Marketing, has been appointed Vice President of Marketing.
Pat Roney, Chief Executive Officer, noted, “We have excellent talent within our organization, and Zach and Jenna have considerable experience in their respective areas of responsibility. These promotions both recognize their capabilities and leadership skills while also building out our management structure to support our strategy for growth.”
With over two decades in the winemaking industry, Zach Long joined VWE through the 2021 Kunde acquisition, where he served as Director of Winemaking for 11 years. Before joining Kunde, Zach held the role of Winemaker at Girard Winery. In addition to his wealth of industry insight acquired through working closely with Vintage affiliated wineries, growers and vendors, Mr. Long holds degrees in viticulture and enology from the University of California Davis (UC Davis) and a certification in viticulture from the University of Purpan in Toulouse, France. In his expanded role as Chief Operations Officer, Mr. Long assumes additional responsibility for all 14 estate wineries and two major wine production facilities in Hopland, California (Rays Station) and Cincinnati, Ohio (Meier’s Wine Cellars). Zach has full operational oversight for supply chain and production activities with a focus on quality, sustainability and enhancing synergies within VWE’s production footprint and serves on the Executive Leadership team.
An MBA graduate of Sonoma State Wine Business Institute with more than a decade of experience in the wine industry, Jenna Duran joined VWE’s marketing team with the Viansa acquisition in 2013, where she led marketing initiatives for all DTC channels including eCommerce, tasting rooms, direct mail, promotional products, and telephonic sales. In 2017, Ms. Duran transitioned to the wholesale business, assuming new responsibilities on the Exclusive Brands team. Her collaboration with senior management included driving innovation and new product development for major national accounts, including the fast-growing Photograph Wines. Her responsibilities expanded to include brand marketing as Director of Lifestyle & Exclusive brands in 2019 and Central Coast brands in 2020. Ms. Duran also led marketing initiatives to launch Bar Dog wine nationally, supporting the growth of the brand to over 100,000 cases. Bar Dog is now Vintage’s fastest-growing brand, earning it an Impact Hot Prospect Award in 2021.
About Vintage Wine Estates:
Vintage Wine Estates (Nasdaq: VWE and VWEWW) is a family of wineries and wines whose singular focus is producing the finest quality wines and incredible customer experiences with wineries throughout Napa, Sonoma, California’s Central Coast, Oregon, and Washington State. Since its founding 20 years ago, the Company has grown to be the 14th largest wine producer in the U.S., selling more than two million nine-liter equivalent cases annually. To consistently drive growth, the Company curates, creates, stewards, and markets its many brands and services to customers and end consumers via a balanced omni-channel strategy encompassing direct-to-consumer, wholesale, and exclusive brand arrangements with national retailers. While VWE is diverse across price points and varietals with over 60 brands ranging from $10 to $150 USD at retail, its primary focus is on the fastest growing luxury segment of the wine industry with most brands selling at over $15 per bottle. The Company regularly posts updates and additional information at https://www.vintagewineestates.com/.
Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). Forward-looking statements are all statements other than those of historical fact, and generally may be identified by the use of words such as “anticipate,” “believe,” “build”, “develop”, “driving,” “estimate,” “expect,” “further,” “future,” “intend,” “may,” “making,” “plan,” “project,” “should,” “will,” or other similar expressions that indicate future events or trends. These forward-looking statements include, but are not limited to, statements regarding VWE’s current and future skills, capabilities, and performance of its management and executive team, future plans regarding its vineyard portfolio and asset management strategies, estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, business plans and strategies, including strategic growth initiatives, expansion and acquisition opportunities, growth prospects and consumer and industry trends. These statements are based on various assumptions, whether or not identified in this news release, and on the current expectations of VWE’s management. These forward-looking statements are not intended to serve as, and should not be relied on by any investor as, a guarantee of actual performance or an assurance or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ materially from those contained in or implied by such forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the control of VWE. Factors that could cause actual results to differ materially from the results expressed or implied by such forward-looking statements include, among others: the Company’s limited experience operating as a public company and its ability to remediate its material weakness in internal control over financial reporting and to maintain effective internal control over financial reporting, the ability of the Company to retain key personnel, the effect of economic conditions on the industries and markets in which VWE operates, including financial market conditions, rising inflation, fluctuations in prices, interest rates and market demand; risks relating to the uncertainty of projected financial information; the effects of competition on VWE’s future business; risks related to the organic and inorganic growth of VWE’s business and the timing of expected business milestones; the potential adverse effects of the ongoing COVID-19 pandemic on VWE’s business and the U.S. economy; declines or unanticipated changes in consumer demand for VWE’s products; VWE’s ability to adequately source grapes and other raw materials and any increase in the cost of such materials; the impact of environmental catastrophe, natural disasters, disease, pests, weather conditions and inadequate water supply on VWE’s business; VWE’s level of insurance against catastrophic events and losses; VWE’s significant reliance on its distribution channels, including independent distributors; potential reputational harm to VWE’s brands from internal and external sources; possible decreases in VWE’s wine quality ratings; integration risks associated with recent acquisitions; possible litigation relating to misuse or abuse of alcohol; changes in applicable laws and regulations and the significant expense to VWE of operating in a highly regulated industry; VWE’s ability to maintain necessary licenses; VWE’s ability to protect its trademarks and other intellectual property rights; risks associated with the Company’s information technology and ability to maintain and protect personal information; VWE’s ability to make payments on its indebtedness; and those factors discussed in the Company’s most recent Annual Report on Form 10-K and in subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission. There may be additional risks including other adjustments that VWE does not presently know or that VWE currently believes are immaterial that could also cause actual results to differ from those expressed in or implied by these forward-looking statements. In addition, forward-looking statements reflect VWE’s expectations, plans or forecasts of future events and views as of the date and time of this news release. VWE undertakes no obligation to update or revise any forward-looking statements contained herein, except as may be required by law. Accordingly, undue reliance should not be placed upon these forward-looking statements.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230112005785/en/
Deborah K. Pawlowski / Patty Yahn-Urlaub
Kei Advisors LLC
Mary Ann Vangrin
KEYWORD: UNITED STATES NORTH AMERICA NEVADA
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE WINE & SPIRITS
SOURCE: Vintage Wine Estates, Inc.
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PUB: 01/12/2023 03:50 PM/DISC: 01/12/2023 03:51 PM