Oliver Winery, a Bloomington-based wine company, has been purchased by New York private equity firm NexPhase Capital.
The winery, which is located on 200 E.Winery Road, opened in 1972 and distributes wine in 40 states and ships across the country.
The winery closed on the deal in March. Former company president Julie Adams and co-founder Bill Oliver said in an April 24 blog post they have been working with NexPhase for four months.
“Oliver is still deeply rooted in Bloomington and in our state and local community,” the post read. “We're also proud that our Indiana-based company can compete as a national player in a really competitive industry.”
The headquarters will remain in Bloomington as will the employees, WTHR reported.
In a January 25 blog post, the winery wrote that Adams will become the CEO and founding family member Bill Oliver will continue serving on the board of directors.
“The commitment of Oliver Winery’s existing employees will now be supported by NexPhase’s financial backing and industry expertise,” the post read.
Jamie Kaufman, a partner at NexPhase, and operating partner Doug Corbett will both join the winery’s board of directors, according to the post.
“Kaufman leads the Firm’s consumer investing practice and Corbett brings nearly 30 years of consumer operating experience growing and optimizing branded businesses in the U.S., Western Europe and Canada,” the post read.
The NexPhase consumer team has focused its investments on other companies, including Zing Zang, a non-alcoholic cocktail mix brand, according to the post.