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Let’s TalkOpici Wines & Spirits to Acquire Pacific Highway Wines in North Carolina
Opici Wines & Spirits, based in New Jersey, United States, announced on July 25, 2023, an agreement to acquire Pacific Highway Wines, based in North Carolina, United States. Opici Wines is an importer and producer of fine wines and artisanal spirits, and Pacific Highway is a specialized import, sales, and marketing agency of family-owned wines. The acquisition is an opportunity for Opici Wines to drive growth.
Transaction Summary
The Facts of the Acquisition
- Target: Pacific Highway Wines is a family-owned importer and distributor of various brands of wines made by family-owned wineries across the world, including from Argentina, Australia, California, Chile, France, Italy, New Zealand, Oregon, Spain, and Uruguay.
- Acquirer: Opici Wines & Spirits is an importer, producer, and distributor of more than 40 wine brands from the United States and overseas. These include Ruca Malen, from Argentina; El Coto, from Spain; and Totara, from New Zealand. Opici has also launched proprietary brands, including LaLuca, from Italy; and Julia James and Auspicion, from California. The company has been in operation since 1913.
Our Take on the Acquisition
Pacific Highway Wines (target) has strong relationships with small, family-owned winery brands and has been ready for growth. The acquisition will allow Opici Wines & Spirits (acquirer) to consolidate the complementary portfolio, supplementing its own, and to operate both portfolios at scale.
The Transaction
| Date: | July 25, 2023 |
| Price: | Undisclosed |
| Purpose: | To acquire complementary product lines. |
| Acquirer’s Statement: | Don Opici, CEO of Opici Wines & Spirits – “This acquisition is a unique strategic opportunity to add a complementary portfolio and drive growth for our national business. Bringing the Pacific Highway Wines family into our Opici family business provides the opportunity to add resources to support national accounts and local sales efforts across the country. The multi-generational wine brands, luxury offerings, and innovative non-alcohol premium wines coming into our portfolio are spectacular. Together our portfolio sets us apart as one of the most coveted, family-centric importers in the US today.” |
Target/Seller: Pacific Highway Wines
Company Information
| Target: | Pacific Highway Wines |
| Website: | pacific-hwy.com |
| Founded: | 2008 |
| Industry: | Alcohol Beverages Wholesale Import and Distribution |
| Type: | Private, family owned |
| Employees: | 29 (Self-published on LinkedIn) |
| Locations: | Head Office: 7820 Thorndike Road, Greensboro, North Carolina, United States |
Product Information
| Products: | Bordeaux – Red wine made from a blend of grapes Brut – The driest classification of champagne, which is made with less sugar Cabernet Franc – Bright, pale wine with additional aromas Cabernet Sauvignon – Dry, full-bodied wine from red-skinned grapes Chardonnay – White wine made from green-skinned grapes Malbec – Full-bodied red wine with dark fruit flavors and a smoky finish Pinot Gris – Ripe, full-bodied, red wine with notes of ginger and honey Pinot Noir – Red wine from the grape species Vitis vinifera Red Blend – Wine made from a diverse grape variety Rosé – Wine made from grapes that touch the wine for only a short time Sauvignon Blanc – Popular white wine with flavors of lime, apple, passion fruit, and white peach Tempranillo – A medium- to full-bodied red wine White Blend – Wine fermented without grape skins and made from more than one vintage or variety of grape |
| Market Reach: | United States |
Financial Information
| Revenue: | USD $5.1 million (Unconfirmed Source: ZoomInfo) |
| Revenue per Employee: | USD $175,862 (i.e., USD $5.1 million / 29 employees = USD $175,862 – estimated based on the self-published number of employees and the revenue from ZoomInfo) |
Did You Know?
Revenue in the wine market amounts to USD $56.65 billion in 2023, according to Stastista, and most of that revenue – USD $56.65 million – is generated in the United States. It is the biggest wine market in the world. Sun-bathed California, with 4,391 wineries, accounts for over 80% of the country’s wine production and produced more than 773 million gallons in 2021. But, Italy is the number one wine producer worldwide.
Target/Seller Overview: Pacific Highway Wines
Pacific Highway Wines, established in 2008 as Robert Oatley Imports, is a specialized importer, seller, and distributor of fine-quality wines. It was renamed Pacific Highway Wines in 2013 as it grew. The company imports wines from across the world, including from Uruguay, Argentina, and Chile in South America; Spain, France, and Italy in Europe; Australia and New Zealand. And it is a distributor for U.S. vineyards in California and Oregon. The company has been expanding its import portfolio and was named “Importer of the Year” in 2022 by Wine Enthusiast magazine.
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Explore Your Options NowBuyer/Acquirer: Opici Wines & Spirits
Company Information
| Buyer: | Opici Wines & Spirits |
| Website: | opiciwinesandspirits.com |
| Founded: | 1913 |
| Industry: | Alcohol Beverages Import, Distribution, and Production |
| Parent Company: | Opici Family Distributing |
| Type: | Publicly listed company |
| Employees: | 409 (Self-published on LinkedIn) |
| Location: | Office: 25 DeBoer Drive, Glen Rock, New Jersey, United States |
Product Information
| Products: | Barbarone – Full flavored, full-bodied red wine with a sweet aroma of dark fruit Cabernet Sauvignon – Dry, full-bodied wine from red-skinned grapes Chardonnay – White wine made from green-skinned grapes Chianti – Red blend from Tuscany, Italy Chocolate Wine – Red or white wine infused with chocolate flavors Pinot Gris – Ripe, full-bodied red wine with notes of ginger and honey Pinot Noir – Red wine from the grape species Vitis vinifera Prosecco – A light-bodied, vibrant, fresh, high aromatic, and crisp wine Rosso – A dry, fruity, red wine produced in Tuscany, Italy Rosé – Wine made from grapes that touch wine for only a short time Sangria – Combination of lime, lemon juice, fruits, and wine Sauvignon Blanc – Popular white wine with flavors of lime, apple, passion fruit, and white peach |
| Market Reach: | United States |
Financial Information
| Revenue: | USD $444.4 million (Unconfirmed Source: ZoomInfo) |
| Revenue per Employee: | USD $1.09 million (i.e., USD $444.4 / 409 employees = USD $1.09 million – estimated based on the self-published number of employees and the revenue from ZoomInfo) |
Buyer/Acquirer Overview: Opici Wines & Spirits
Opici Wines & Spirits is an importer and producer of fine wines and artisanal spirits. It has been family owned and operated since its inception in 1913. Today, the company is managed by Don Opici, fourth generation, and boasts a portfolio of more than 40 brands from around the world. While it has expanded its portfolio, it has remained true to its roots with its Opici label, through which it offers an assortment of red wines.
Buyer/Acquirer Overview: Opici Wines & Spirits
Opici Wines & Spirits is an importer and producer of fine wines and artisanal spirits. It has been family owned and operated since its inception in 1913. Today, the company is managed by Don Opici, fourth generation, and boasts a portfolio of more than 40 brands from around the world. While it has expanded its portfolio, it has remained true to its roots with its Opici label, through which it offers an assortment of red wines.
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Sources
- Company Profile
- Other Sources
- Unconfirmed Sources