New York, September 30, 2015 – Domaine Select Wine & Spirits, one of the industry’s most progressive importers and distributors of fine wine and artisan spirits, today announced the acquisition of Vinecraft, LLC, a Miami based fine wine and spirit distributor. This acquisition comes after the July announcement of Domaine Select’s partnership with Walden Capital Management, a private equity group with financial and management expertise in the fine wine and spirits sector.
“Florida represents the third largest market in the U.S. for Domaine Select Imports and we are thrilled to be able to expand our reach through this acquisition,” says DSWS Founder Paolo Domeneghetti. “Due to long term customer relationships in Florida, the fact that our new partners are Miami based, and the philosophy of the Vinecraft business model, this is a natural fit for DSWS.”
The Domaine Select Wine & Spirits portfolio of over 100 suppliers will continue to be represented exclusively in Florida by three distributors, one of which is Vinecraft.
Vinecraft will be run as an independent unit and continue to be led by Paul Owens, Founder and President of the Florida operation. The current portfolio and sales staff of Vinecraft will remain intact and plans are in place for continued dynamic growth. Operational and warehouse staff will benefit from support of the DSWS infrastructure, including leadership by DSWS Executive Vice President/COO/CFO Evis Savvides, who will oversee the operational transition strategy.
“After an incredible first four years made possible by the support of our customers, our staff, and our talented suppliers; it is with great honor and excitement that we enter into this partnership with Domaine Select Wine & Spirits.” says Paul Owens, President of Vinecraft. “The support of this new relationship will strengthen our position with our loyal suppliers, help us to grow our sales team, and allow us to continue to provide and improve exceptional service and amazing products to our customers, as the leader in craft distribution in Florida.”
“The acquisition of Vinecraft represents an important step in the path of Domaine Select,” explains DSWS Chairman, Daniel Holtz. “Notwithstanding that we will now have our own boutique distribution company in Florida, our distributor partners will continue to be an essential part of our growth strategy in the state.”