Oliver Winery, which sold more than 700,000 cases last year, a 40% jump from 2019, said NexPhase Capital agreed to invest in the winery, which currently distributes its wine in 27 states along with operating a substantial DtC business. It has been 100% employee-owned and is one of the largest wineries east of the Mississippi.
Oliver Winery’s headquarters, including its tasting room and winemaking, will remain in Bloomington, Ind. Founding family member Bill Oliver will remain deeply involved with the company on the board of directors. Julie Adams, president, will become CEO.
“We have an incredible, dedicated team, and together we’ve grown Oliver Winery into a national, respected brand,” said Oliver. “NexPhase is a dream-come-true new partner. They’re smart, good people, who will bring even better resources to the table. We couldn’t be more excited about what’s next.”
“It’s always been a point of pride for us that the winery’s success benefits our hardworking, loyal employees,” said Adams. “I am confident that this transaction will benefit all of our stakeholders, including our customers and especially our employees. This is the beginning of a new, exciting chapter for our team, and we are thrilled to continue to build on our strong foundation with the support of NexPhase.”
Jamie Kaufman, a Partner at NexPhase, said: “NexPhase is committed to protecting and nurturing the exceptional company culture and brand that has made Oliver Winery a leader and innovator in the wine industry. We look forward to partnering with the Oliver team to support their industry leading growth and intend to continue to invest in their facility in Bloomington, Indiana.”
Kaufman and NPC Operating Partner Doug Corbett will join the company’s board of directors. Kaufman leads the Firm’s consumer investing practice and Corbett brings nearly 30 years of consumer operating experience growing and optimizing branded businesses in the U.S., Western Europe and Canada. The NexPhase consumer team focuses on investing in branded CPG companies, including Zing Zang, the leading non-alcoholic cocktail mix brand in the U.S.
Oliver Winery was founded in 1972 as a hobby by Indiana University law professor William Oliver. He was instrumental in passage of the Indiana Small Winery Act.