Continuing its thirst for deals, an Innsbrook company has uncorked its second acquisition of the year.
The Winebow Group, a wine and liquor importer and distributor headquartered at 4800 Cox Road, has purchased Grape Beginnings in Minnetonka, Minnesota. The deal was announced Tuesday, and terms were not disclosed.
In adding the Midwestern distributor, Winebow gains expanded reach in that part of the country – this is its first move into Minnesota, and Grape Beginnings distributes across the entire state. The deal follows Winebow’s acquisition of Purple Feet Wines in Wisconsin in February.
The deal also gives Winebow control over Grape Beginnings’ portfolio of wines from around the world.
Winebow spokeswoman Teresa Low said Grape Beginnings carries domestic and international wines from Argentina, Italy, New Zealand, Spain and elsewhere.
“They had been representing a great portfolio of wines,” Low said.
She said Winebow had previously used Grape Beginnings as its distributor in Minnesota. Bringing the company into the fold was a natural step in the relationship, Low said.
Winebow now has more than 1,000 employees, Low said, and it added a couple of dozen workers and four Minnesota warehouses with the addition of Grape Beginnings.
Low said expansion via acquisition is likely to continue as the right deals come along.
“From a growth standpoint, the Winebow Group definitely has a growth trajectory, but we’re not on the path to just look for things to gobble up,” she said.
The Winebow Group was created through the 2014 merger of New York-based Winebow and Ashland’s the Vintner Group. Vintner Group was founded in Richmond in 1980.
Prior to that merger, the Vintner Group had been on an acquisition-fueled expansion streak into Florida, New York, Georgia and other states.
Winebow now imports and distributes wines and liquor from all over the world into 17 states. Its deals typically maintain the brand of the distributors it acquires.
It has separate brands in each of its other markets and distributes in Virginia mainly through its Country Vintner brand.
In addition to its Innsbrook headquarters, Winebow operates a warehouse and distribution facility at 12305 N. Lakeridge Parkway in Ashland.