Terold Winery, a family-owned wine company, is pleased to announce that it has purchased a majority share in WX Brands, a Southern California company specializing in the production of high value wines from natural ingredients. The transaction is a combination of cash and stock, and Terold Winery will now be the majority shareholder of WX Brands.
Terold Wines has purchased a majority stake in WX Brands, a leading wine importer and distributor based in New Jersey. Terold purchased the majority stake in WX Brands from the Garber Group, a privately owned California-based company.
The date is August 2, 2021, in Novato, California. WX Brands, a prominent worldwide wine business headquartered in Novato, has announced that Terold, a company controlled by members of the Bemberg Family Group, has acquired a controlling interest in WX Brands, which will take effect on July 30, 2021.
Diego Herrera Sainz de Vicua, member of Terold’s Board of Directors, stated, “WX Brands has developed a solid company based on good brand investments, a clean financial sheet, powerful distribution, and a deep knowledge of the wine consumer.” “This investment is the culmination of years of worldwide growth efforts. WX Brands is a fantastic addition to our existing wine business portfolio. We are certain that the Bemberg Family Group and WX Brands will reap significant benefits.”
Terold, a sixth-generation family company, has a lengthy track record of successfully developing companies via strategic alliances, as well as extensive expertise in the beverage sector. Terold purchased Grupo Peaflor, Argentina’s largest winery, in 2010. Grupo Peaflor purchased Diageo’s wine business in Argentina in 2016, as well as a distribution and manufacturing deal for Diageo’s alcohol goods in Argentina, Chile, Uruguay, and Paraguay. Grupo Peaflor now has a significant presence in major sectors of the Argentine market, accounting for 27% of the country’s wine exports. Vineyards in Napa Valley and Lodi are also owned by the company.
“For over two decades, we have known and appreciated the Bemberg Family Group and Grupo Peaflor. “This collaboration is a huge vote of confidence in the WX Brands team, and it will help both companies develop and succeed,” said WX Brands President and CEO Peter Byck. “We’ve discovered that we share similar values: a long-term business view, a people-first strategy, and family ownership in both organizations. We both think that by working together, we may achieve greater development and success.”
WX Brands and Terold’s other wine assets will continue to operate as independent businesses, with WX Brands’ management team, headed by Peter Byck, remaining in place. The deal’s financial details have not been revealed.
O’Melveny & Myers LLP provided legal counsel to WX Brands and Credit Suisse represented WX Brands as financial advisor. Winston & Strawn served as legal advisor and Rabobank served as financial advisor to Terold.
WX Brands Information
WX Brands was established in 1999 and has a diverse portfolio of wine brands marketed both locally and internationally. WX Brands also creates unique wine labels for merchants all around the globe. WX Brands wines are supplied from 14 countries and distributed in 20 countries, resulting in an annual sales volume of approximately 4 million cases. WX Brands was ranked #14 among the Top 50 U.S. wine businesses by Wine Business Monthly in February 2021.
Quilmes (Quinsa, Quilmes International) was founded in 1888 by Otto Bemberg and has grown to become the biggest brewing conglomerate in the South American area, which includes Argentina, Chile, Uruguay, and Paraguay. For almost 120 years, the Bemberg Family Group owned and operated this enterprise, which it sold to AB InBev in 2006 following a 50/50 joint venture. Strategic relationships are critical to the company’s expansion and success. In the beverage industry, world-class companies such as Heineken, AB InBev, Coca-Cola, PepsiCo, and Nestle have collaborated with the Bemberg Family Group during the past three decades.
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