Splash Wines Names President; Appoints Investment Banker
Eagle, Ida.—Splash Wines, Inc., one of the fastest growing direct-to-consumer wine marketing companies in the USA, today announced the appointment of Bruce Cunningham as its President effective June 1, 2019. Cunningham, a native of Australia and a graduate of The University of Adelaide’s International Wine Marketing program, has 23 years of experience in the US wine industry, including founding AWDirect, a major wine producer for some of the foremost and influential wine clubs in the country. He sold that company in 2018.
Splash, which was founded in December 2014 by the Imeson family, has been profitable since October 2015 and passed $11.0m in revenue last year. The appointment of Cunningham marks the first time a non-family member has been appointed to a senior management position in the company. “Bruce is a perfect fit for the job,” said Robert Imeson, Splash CEO. “He brings to the position a great knowledge of the industry, immense talent and a lot of fresh ideas. He already knows how to be successful and that fits in well with our culture which values team chemistry. We expect to do amazing things together and are excited for the next chapter.”
As an integral member of the executive team at Splash, Bruce will play a major role in setting strategies as well as working to develop and execute clear goals for the already motivated team. “I am excited by this opportunity and the challenges that come with it,” said Cunningham. “Splash is unique in the industry and I look forward to contributing and being part of this great story.”
Splash also announced that it has appointed Auctus Capital Partners of Chicago as its exclusive advisor to assist the company in raising growth capital. This round of funding has been designed and timed to provide the company with the financial capability to move forward with the strategic projects that management believes will help ensure the company has the capacity to achieve its near term goal to become an industry leader in the direct-to-consumer wine space. The round, currently planned for $2.5m, is projected to be completed prior to Q4.
“The appointment of Auctus is an important step for Splash as the company continues to evolve,” said Imeson. “We look forward to a long partnership together.”
About Auctus Capital Partners
Auctus Capital Partners is a leading financial services firm focused exclusively on creating value for the lower middle market. The Auctus Group companies comprise a multi-faceted financial group specializing in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting. Our experienced professionals have the necessary foresight to navigate through highly-complex transactions to maximize value for our clients and create steady growth.