Dynamic New Player Establishes Itself As A Leader In DTC Wine
LOS ANGELES, Oct. 2, 2023 /PRNewswire/ -- Full Glass Wine Co., a brand acquisition and management firm focused on Direct-to-Consumer (DTC) wine, today announced the acquisition of Wine Insiders from DRINKS, the pioneering and leading operating system for alcohol e-commerce.
The acquisition of Wine Insiders marks the second DTC wine brand purchased by Full Glass Wine Co., founded earlier this year by alcohol industry veteran Louis Amoroso and entrepreneur Neha Kumar, following its purchase of the DTC operating assets of wine and lifestyle brand Winc.com from AMASS Brands Group. Full Glass is actively exploring acquiring other DTC wine companies en route to building a multi-brand online wine marketplace.
"Acquiring market leaders Wine Insiders and Winc.com demonstrates our belief in, and passion for, online wine brands dedicated to providing superior experiences and value for customers," said Louis Amoroso, Co-founder and CEO of Full Glass Wine Co. "Full Glass's mission is to empower beloved DTC wine brands to capitalize on DTC alcohol sales growth to reshape the DTC landscape and deliver unmatched value to online wine shoppers through rich, streamlined experiences supported by operational excellence."
Preeminent DTC Wine Destinations, Powered by DRINKS
DRINKS initiated the sale to focus on its core growth opportunity: the alcohol e-commerce enablement technology it has built and scaled over the last ten years. It also sets the stage for accelerated growth for Wine Insiders – a 41-year-old DTC wine pioneer – under the leadership of deep industry veterans with long-standing brand experience. Amoroso previously served as President of DTC at DRINKS.
"Transforming Wine Insiders into a digitally focused, DTC wine powerhouse over the last nine years created the perfect foundation for DRINKS to develop the next generation of enterprise-grade technology for the alcohol industry," said Zac Brandenberg, DRINKS Co-Founder & CEO. "The online channel has become the fastest growing medium for consumers to discover and purchase adult beverages, and our complete focus now is bridging the gap between that growing desire and alcohol companies' ability to scale online sales."
DRINKS provides regulatory and compliance technology to Full Glass's brands through its Shopify app, making it easier to keep up with ever-changing tax and compliance regulations. In addition, Full Glass leverages DRINKS' WaaS® platform and PAIR Recommend technology to power its rapidly growing national operations.
Oppenheimer & Co. Inc. acted as the exclusive financial advisor to DRINKS for the sale of its Wine Insiders business unit.
About Full Glass Wine Co.
Full Glass Wine Co. is a brand acquisition and management firm focused on rapidly acquiring Direct-to-Consumer (DTC) wine companies to build a multi-brand wine marketplace. Co-founded by industry pioneer Louis Amoroso and Neha Kumar, the company is revolutionizing DTC wine by leveraging the power of compelling storytelling, immersive content, groundbreaking business models, and personalized e-commerce experiences. Full Glass Wine Co. is committed to fostering long-term partnerships with its investors, who share a passion for shaping the future of the wine industry and unlocking unprecedented value for all stakeholders.
DRINKS (drinks.com) powers digital commerce for the $250 billion US alcohol market. The company enables alcohol e-commerce for leading retailers, online marketplaces, and alcohol companies, eliminating a century of red tape with simple-to-use enterprise-grade technology. Via the DRINKS App for Shopify, DRINKS exclusively provides Shopify merchants of all sizes with an embedded, real-time alcohol tax and regulatory solution. The patented DRINKS PAIR platform leverages AI, Machine Learning, and Computer Vision to provide personalized shopping experiences and data-driven insights. Electriq, DRINKS' Shopify Plus Certified professional services team, extends the company's unparalleled beverage alcohol and e-commerce experience to create best-in-class customer journeys. DRINKS was named a Top Place to Work by Built In LA for five years, one of America's Best Startup Employers by Forbes for two consecutive years, and earned the 2023 Brand Experience Award for Marketplace Strategies & Technologies by Retail TouchPoints.
SOURCE Full Glass Wine Co.