New York Based Owners of Beloved Winery and Event Destination Are Ushering in the Next Chapter for Chaddsford
Chadds Ford, PA (April 2, 2024) – For the first time since Chaddsford Winery (Chaddsford) co-founders Eric and Lee Miller retired, the privately held winery is actively seeking new ownership. The Petrillo family, co-founders and longtime owners of the winery, are consolidating their investment portfolio and exiting the winery business. The winery is poised for a new generation of energized ownership, whether it be a small collective of high-net-worth local and loyal oenophiles, individual investors and partners, or a hospitality-focused private equity group looking for a strong, established brand with a powerful regional presence situated on five acres of prime real estate. Under new ownership, the future is ripe for Chaddsford.
In the decades under the Petrillo family ownership, Chaddsford has advanced to become a highly respected and award-winning winery, earning prestigious accolades including the Keystone Cup for Best White Wine in Pennsylvania, Best in Show—Sparkling Semillon at the Pennsylvania Farm Show, and Pennsylvania Sommelier Judgement. Wholesale distribution has expanded to seven states, with recent forays into the Florida, Ohio, and Kentucky markets as well as increased product availability and growth within the Pennsylvania Liquor Control Board (PLCB). Product innovation continues to be a cornerstone of the business, with successful pilot programs in the ready-to-drink canned cocktails and kegged wine categories.
Wholesale distribution in seven states, including a robust relationship with the PLCB, is a significant component of the winery’s staying power, comprising 23% of total sales. However, the destination-driven programs and experiential retail drive the current business model (45% of total sales), largely due to the memorable events hosted at this historic venue. The winery’s flagship festival, Adult Trick-Or-Treat, welcomes over 6,300 ticketed attendees during the month of October, and boasts 50% Year-Over-Year revenue growth. Experiential retail, such as table service, wine flights, and ticketed reserve tastings, allow for substantial up-selling opportunities for to-go bottles and wine club memberships. Additionally, these programs maintain the highest profit margins and provide a degree of resistance to inclement weather.
Seasonal products have also played a vital role in the winery’s fiscal growth. The popularity of Holiday Spirit and Spiced Apple mulled wines has helped to grow both wholesale and seasonal pop-up retail activity. The winery’s presence at outdoor holiday markets such as Dilworth Park Wintergarden, Christmas Village, and Tinseltown drives six-figure annual sales thanks to warm mugs of these European-inspired spiced wines. In addition, the winery sold over 3,000 cases of these two mulled wines to regional wholesale distribution partners in 2023.
“The Petrillo family has enabled Chaddsford Winery to become a destination to experience wine in a fun environment, encouraging exploration through unique pairings and events. Chaddsford is a strong, modern brand with a loyal following and is now positioned to take the business to the next level under new ownership,” explains Corey Krejcik, General Manager of Chaddsford Winery. “Chaddsford has the potential for phenomenal future growth with the opportunity to create scalable success across existing core competencies, leveraging a nationally recognized brand with deep, established retail and wholesale relationships spanning multiple markets.”
About Chaddsford Winery
Located in the heart of the Brandywine Valley in beautiful Southeastern Pennsylvania sits Chaddsford Winery, one of the oldest and most acclaimed wineries in the state. Established in 1982, Chaddsford Winery is widely regarded as a pioneer in the Pennsylvania wine industry, and with production of approximately 24,000 cases annually, it remains one of the largest by volume. Focusing on making approachable, food-friendly wines that reflect their unique ‘Mid-Atlantic Uplands’ microclimate, Chaddsford expresses its artisanship through a diverse portfolio of dry whites, reds, and sweet wines. Visit www.chaddsford.com for a complete rundown of live programs, virtual events, and wines available for direct shipping.
