Winery wins infusion of new capital
Bacchus Capital is an investment firm that specializes in providing strategic capital and making equity investments in U.S. wineries and wine businesses.
Though the amount was not disclosed, Peter Kaufman, co-founder and managing partner, said, “Our commitment to partnering with Joe long term demonstrates the new model we have built in a very dynamic industry.”
Dobbes responded, “Bacchus continues to back a winner. We’re proud of the continued support and partnership.
“I started this company 10 years ago with $50,000 of my own money and a deep passion for winemaking. Today, we’re one of the largest wine producers in the state.”
In fact, Dobbes’ Dundee winery turned out 112,000 cases in 2012, making it Oregon’s sixth largest producer. Of that, it marketed 45,500 cases under its own labels — Wine by Joe, Dobbes Family Estate and Jovino — ranking it 10th on the Oregon brands list.
The company’s production capacity gives it the ability to respond rapidly to increased market demand, while still continuing to serve custom crush, bulk and controlled label clients. But ramping up production and production capacity also requires increasing management capability.
Dobbes recently announced the hiring of Anthony Van Nice, previously president of The Four Graces Winery, to serve as chief operating officer. “Adding Anthony to our team clearly indicates where this company is headed and shows that we’ve got what it takes long term,” Dobbes said.
With the new capital infusion, a search is now under way for a second new figure in the management hierarchy — a chief financial officer.
Van Nice’s resume includes sales positions with Gallo in the Midwest and Southeast and sales manager postings with Pine Ridge and Archery Summit. He’s also owned and operated his own wine consulting firm.
Dobbes’ experience spans more than a quarter of a century of winemaking with such noted producers as Willamette Valley Vineyards, agumented by 11 years running his own company.
Sam Bronfman II, co-founder and managing partner of Bacchus, said, “Joe has made a significant impact on the Oregon wine industry. We’re proud of his accomplishments and his aspirations.
“Wine by Joe was recognized by Wine Business Monthly as the #1 Hot Selling Brand of 2011, and....we look forward to further developing our successful and exciting partnership.”