Good Company Wines Acquires Wine Tasting Network
November 16, 2016
Sonoma, CA. - November 15, 2016 - Good Company Wines, Inc., America’s leading full-stack wine company and parent to the online wine retail sites, invino.com, inclub, cellar thief, glassful and bubblesclub.co, today announced the acquisition of the retail business of Wine Tasting Network, a Napa, CA-based ecommerce retailer from The Synesthesia Group (TSG). Terms of the deal were not disclosed.
Wine Tasting Network is one of the oldest ecommerce companies in the online wine space; founded in 1991 as a wine catalogue business. Formerly a subsidiary of 1-800-FLOWERS (NASDAQ: FLWS), the division was acquired by TSG in 2014. TSG repositioned WTN and its family of brands segmenting the winery business and the retail business. WTN has hundreds of thousands of active members. The WTN properties acquired include Winetasting.com, Ambrosia.com and NapaConnection.com.
“This is a unique opportunity for Good Company Wines to expand our award-winning service and offerings to the customers of one of the original and most iconic online wine retailers. In many senses, this is the company that created the concept of the wine club,” explained invino co-founder and CEO, Tony Westfall. “WTN’s large customer reach coupled with their unique inventory offerings make this a very exciting opportunity to grow our company.” Steve Schepman, Founding Partner of TSG, stated
“Tony has built a formidable business in the wine ecommerce space and we look forward to seeing the continued expansion of Good Company Wines with the acquisition of Wine Tasting Network. TSG will retain and continue to develop our business as a California winery, focusing on the development of proprietary wine brands including Hamilton, Geerlings & Wade, Mira Luna and San Valencia.”
About Good Company Wines:
Good Company Wines Inc. is a fully integrated online wine distribution company founded by Danielle Wein-Westfall and Tony Westfall. Properties under the GCW umbrella include the original private sale site, invino.com, as well as the subscription service inclub.invino.com. The company also owns and operates Cellarthief.com, Glassful.com, Winebcusa.com, artisvin.com, inclub.invino.com and bubblesclub.co. In addition, the company is a leader in the third party wine space through partnerships with chowhound, vinepair, Conde Nast, BloomThat.com and other distribution partnerships. Headquartered in Sonoma, CA, Good Company Wines, Inc. has scaled to a profitable growth company focused on its multi-online retail properties, strategic partnerships and distribution division, as well as its proprietary technology platform.
Financial Foundation & Leadership:
GCW is a venture-backed wine company funded by top investors including Founders Fund, Launch Capital, DN Capital, Correlation Ventures and Super Angels, Fabrice Grinda and Jose Marin. Launched six years ago, GCW has a proven, profitable, national online full stack wine enterprise that differentiates itself with technological competitive edges.
To learn more about GCW, visit www.goodcompanywines.com.