Beedie Capital Partners Announces US$7.0 Million Growth Financing for Vino Volo
Headquartered in San Francisco, CA, Vino Volo operates the leading chain of upscale wine tasting and wine retail establishments found primarily at airports across North America. Guests have the opportunity to taste hand-selected wines by the glass, in tasting flights, and by the bottle to take home or have shipped. The food menu offers small plates to pair with the wines. Founded in 2004 by CEO Doug Tomlinson, Vino Volo has seen rapid expansion to 31 locations, with a number of new locations opening over the next several quarters.
Vino Volo has received numerous awards and accolades for innovation and service from notable sources such as the Wall Street Journal, New York Times, CNN.com, Wine Spectator, and Airport Revenue News. Vino Volo also consistently rates highly on social media sites such as Tripadvisor and Yelp.
The BCP financing will be used to fund the continued expansion into airport locations, and support the recently launched loyalty and direct-to-consumer programs. Armentum Partners acted as financial advisor to Vino Volo for the debt transaction.
“We have been thoroughly impressed by Vino Volo at every level - from the passion and experience of the management team and Board, to the financial metrics being delivered during this growth phase, to the quality of the offering being put forward across every location in the network,” said Randy Garg, Managing Partner of BCP. “Vino Volo clearly has a commanding lead in its category and still has substantial room for continued growth - through additional locations, international expansion opportunities, and introducing new and innovative ways of getting even closer to their loyal and passionate customer base both inside and outside of the airport.”
“Randy and his team at BCP were fantastic to work with”, said Doug Tomlinson, founder and CEO of Vino Volo. “With their previous experience working with multi-location businesses, they quickly understood our business model and expansion plans, and were able to act decisively to commit the level of resources needed. As a high growth company, it is critical to have financial partners who understand how to support growth, add value, and can keep pace. We really look forward to developing a long-term relationship with BCP as one of our key financial and business partners.”
About Vino Volo
Vino Volo establishments combine an upscale wine lounge, restaurant and boutique wine shop under one roof, and are primarily located in airports across North America. Vino Volo (derived from “wine flight” in Italian) is a trusted wine authority that makes wine approachable, offering hand-selected wines from around the world by the glass, in tasting flights, and by the bottle for customers to take home or have shipped. Vino Volo’s patented “Vino Chart” helps guests to more easily understand wines based on fruit and complexity. The Company also has a Wine Club for enthusiasts and a loyalty program to reward its guests. In 2013, Vino Volo won six Airport Revenue News awards including “Operator with the Highest Regard for Customer Service,” which is the 7th consecutive year it has won this award.
Vino Volo currently operates in the following airport locations: Baltimore, MD (BWI), Detroit, MI (DTW), Newark, NJ (EWR), New York, NY (JFK, 2 locations), Oakland, CA (OAK), Philadelphia, PA (PHL, 4 locations), Sacramento, CA (SMF, 2 locations), Salt Lake City, UT (SLC), San Antonio, TX (SAT), San Francisco, CA (SFO), Santa Ana, CA (SNA), Seattle, WA (SEA), Washington, DC (IAD, 2 locations), Boston, MA (BOS, 2 locations), Vancouver, BC (YVR, 2 locations), Denver, CO (DEN, 2 locations), Dallas, TX (DFW), Cincinnati (CVG), Cleveland (CLE), Los Angeles, CA (LAX), Columbus, OH (CMH), as well as city stores in Bethesda, MD and Tysons Corner, VA. Opening in early 2014 will be Montreal, PQ (YUL International Terminal), Austin TX (AUS) and Jacksonville, FL (JAX).
About Beedie Capital Partners
Beedie Capital Partners (BCP) provides highly flexible growth financing solutions for small to mid-market companies across a wide variety of industry sectors. Managed by a small core team of decision makers, BCP is highly responsive, creative and flexible with terms, timing and transaction structure. BCP has been actively investing since its establishment in early 2011, with 12 portfolio investments (current and past) and over $62 million invested or committed since inception. BCP is fully funded by Beedie Development Group, British Columbia’s largest private industrial landlord and developer, established in 1954. For further details, also visit www.beediecapital.com and www.beediegroup.ca.