Winebusiness.com - Homepage for the Wine Industry

Inertia Beverage Group Raises $14 Million


Date: 12/17/09

Inertia Beverage Group has secured $14 million in new capital, from existing investors Allegis Capital and Sid R. Bass Associates, and new investors, including PEI Funds “to support the vision of IBG to deliver a fully integrated, comprehensive solution for the direct-to-market wine industry.”

Such a sum of venture capital probably hasn’t been invested in wine ecommerce since the early days of venture investing in the wine industry during the dot-com craze. It brings the total IBG has raised to date to about $28 million.

IBG had been working on solidifying its finances since buying New Vine Logistics earlier this year. “This takes questions about viability off the table,” IBG president and chief executive Ted Jansen told Winebusiness.com. “It’s an incredibly challenging fundraising environment. So to be able to close it really shows the confidence our investors have,” he said. “The industry is trying to remake itself and direct is going to be more important to the strategy of every winery.”

IBG also announced that Dave Manougian has joined the company as chairman of the board. A former CEO of The Golf Channel, Manougian also worked for E & J Gallo Winery, Nike and Comcast, which owns the Golf Channel.

The company also said that now that it has integrated operations of New Vine’s fulfillment, it has eliminated “redundant roles and significant cost savings.” Jansen said 15 employees are leaving the combined company and that five offices are being consolidated to two.

“IBG’s delivery of a complete, integrated platform to support direct marketing and sales efforts comes at a critical time for the wine industry,” the company said in a press release. “The need to expand marketing reach, lower costs and complexity, and improve margins is essential for wineries confronting an increasingly challenging market environment.

“We now have access to all of the necessary resources to execute our vision of providing industry leading capabilities and unmatched service to our customers seeking to reach trade and consumer markets directly,” Jansen said in the release. “Our team has really pulled together over the past few months to integrate our eCommerce, fulfillment and compliance operations; our customers are now benefitting from capabilities no other company in the industry can match.”

Website: http://www.inertiabev.com

submit supplier news

Submit your press release and photo to suppliernews @winebusiness.com

wines & vines directory

Search wineries, growers, distributors, and industry suppliers in North America

latest used barrels

- used barrels  •  Jan 23, 2015 at 12:38PM PST
- used barrels  •  Jan 21, 2015 at 8:40PM PST
- used barrels  •  Jan 20, 2015 at 9:37AM PST
- used barrels  •  Jan 20, 2015 at 9:29AM PST
- used barrels  •  Jan 15, 2015 at 11:07AM PST

latest real estate

- real estate  •  Jan 26, 2015 at 2:41PM PST
- real estate  •  Jan 26, 2015 at 8:41AM PST
- real estate  •  Jan 22, 2015 at 5:35AM PST
- real estate  •  Jan 21, 2015 at 12:29PM PST
- real estate  •  Jan 19, 2015 at 8:44AM PST

latest used equipment

- used equipment  •  Jan 27, 2015 at 9:13PM PST
- used equipment  •  Jan 27, 2015 at 7:08PM PST
- used equipment  •  Jan 27, 2015 at 7:08PM PST
- used equipment  •  Jan 27, 2015 at 1:28PM PST

latest services & supplies

- services & supplies  •  Jan 27, 2015 at 9:52AM PST
- services & supplies  •  Jan 24, 2015 at 11:57AM PST
- services & supplies  •  Jan 22, 2015 at 8:24AM PST
- services & supplies  •  Jan 21, 2015 at 2:13PM PST
- services & supplies  •  Jan 20, 2015 at 11:54AM PST

Copyright© 1994-2015 by Wine Communications Group. All Rights Reserved. Copyright protection extends to all written material, graphics, backgrounds and layouts. None of this material may be reproduced for any reason without written permission of the Publisher. Wine Business Insider, Wine Business Monthly, Grower & Cellar News and Wine Market News are all trademarks of Wine Communications Group and will be protected to the fullest extent of the law.