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Vintage Wine Estates Expands Production with Acquisition of Meier's Beverage.

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M2 EQUITYBITES-January 20, 2022-Vintage Wine Estates Expands Production with Acquisition of Meier's Beverage

(C)2022 M2 COMMUNICATIONS http://www.m2.com

California-based wine producer Vintage Wine Estates, Inc. (NASDAQ: VWE) (TSX: VWE.U) (TSX: VWE.WT.U) has acquired Ohio, US-based custom blending, contract storage, contract manufacturing, and private labeling firm Meier's Wine Cellars, Inc., DBA Meier's Beverage Group, the company said.

The purchase was valued at approximately eight times Meier's 2021 adjusted EBITDA.

With approximately USD 18m in revenue in 2021, Meier's is a leading producer, bottler, importer and marketer of specialty beverage alcohol and non-alcohol products and is one of the oldest and most versatile custom beverage production facilities in the Midwest.

A service provider of custom blending, contract storage, contract manufacturing, and private labeling for wine, beer, and spirits, Meier's owns a bonded winery, brewery, and distilled spirits plant with processing, blending, and bottling capabilities for a broad variety of beverage alcohol and non-alcoholic products.

These operations include three bottling lines and a state-of-the-art beverage canning line that produces over 800,000 cases annually.

Along with enhanced production capabilities and supply chain efficiencies, Meier's offers significant additional warehouse and storage space.

Vintage Wine said the central Midwest location...

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