Inertia Beverage Group (IBG) has agreed in principle with Silicon Valley Bank to acquire its debt position in New Vine, the Wine Logistics and order fulfilment company subject to due diligence and definitive agreements.
“In order to address New Vine’s customer needs and allow for their systems and operations to get back online and shipments flowing immediately, IBG will provide interim cash funding to New Vine pending final documentation,” said IBG President and CEO Ted Jansen. “Operations are already gearing up and we are confident in the ability of New Vine’s operational team and employees to quickly respond.”
“IBG has from its inception been committed to the direct sales channel as an efficient and profitable way for wineries to access the wine market, better control their brands and expand margins,” said Jansen. ” We remain committed to providing leading solutions for the expansion of direct wine sales, on behalf of our clients and the wine industry as a whole, who seek a solution to the complexities of direct shipping.”
About Inertia Beverage Group
Inertia Beverage Group provides solutions for the creation and expansion of online wine marketplaces. Leveraging their proprietary, web-based technologies, IBG gives wineries, retailers and wholesalers the tools necessary to efficiently distribute their products within the expanding direct-to-consumer and direct-to-trade wine markets. Through its REthink Engine TM platform, its free regulatory compliance tool, and Marketplace Services programs, IBG provides its over 500 wine brands access to new marketplaces where supply and demand are united. Recently launched, IBG’s Direct-to-Trade marketplace, WineREvolution.com, provides restaurants and retailers a web-based, fully compliant process to efficiently and legally access a growing list of domestic and international vintners that sell direct to the trade.