Earlier this month, Vintage Wine Estates (VWE) announced that it was reducing staff by 15%, restructuring the company’s business, and simplifying its business model. These moves come after the publicly owned company, like many large wineries, has been experiencing significant financial difficulties.
VWE gave a list of “super premium+ estate wineries” on which it plans to focus going forward. Conspicuously absent from that list were two Washington wineries: Owen Roe and Tamarack. (Willamette Valley’s Firesteed was specifically mentioned as part of the winery’s plans in the press release.) However, Ryan Watson, chief marketing officer at VWE, says the two wineries still factor into the company’s plans.
“Outside of the Clos Pegase and Viansa estates, which we identified as assets for sale, Vintage Wine Estates remains committed to our super premium+ brand portfolio,” he said via email. “Our expectation is that the restructuring of our operations will allow us to be significantly more effective in supporting our unique set of super premium+ brands that have a sense of place. We are excited about the opportunity to focus resources, reduce debt, and return to a position of profitable growth by driving brand desirability, including Owen Roe and Tamarack.”
Here’s a look at the current status of these two wineries as well as what’s going on at VWE.
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I know it’s naïve of me to wish these types of acquisitions wouldn’t happen, but this is a prime reason. I applaud the owners who have worked hard to build a quality brand and business and then are paid well for these acquisitions, but I sure hope it doesn’t accelerate. I can’t think of a single thing that ever “improves” about a winery when a conglomerate buys them.