Petsky Prunier advises eCommerce Company WineAccess on its sale to Norwest Venture Partners
April 20, 2015 (New York, NY) – Petsky Prunier is pleased to announce it has advised WineAccess, Inc., a fast-growing, direct-to-consumer (DTC) wine eCommerce company, on its sale to Norwest Venture Partners (NVP) in partnership with Jim Weinrott, founder and CEO.
WineAccess (www.wineaccess.com) is disrupting the wine selling industry by combining its innovative DTC distribution and fulfillment program with its robust discovery and content-driven marketing approach, driving significant value for both wine consumers and high quality suppliers. The company maintains a growing member base of affluent, knowledgeable, and value-savvy wine enthusiast consumers across the U.S. to which it provides a wide range of products – most of which are unique to the DTC market – sourced through its deep relationships with hundreds of global wine suppliers and importers.
The transaction will enable WineAccess to scale through several growth initiatives, including increased product selection, speedier delivery, and the launch of a new eCommerce platform. Jim Weinrott will maintain a meaningful ownership stake in the company and continue to build on the historical success of the business in partnership with NVP.
NVP (www.nvp.com) is a global, multi-stage venture capital and growth equity investment firm that has partnered with entrepreneurs to build successful businesses for more than 50 years. The firm manages approximately $5 billion in capital and has funded more than 550 companies since inception. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors, including cloud and IT infrastructure, SaaS and enterprise software, internet and consumer, services, and healthcare. NVP is headquartered in Palo Alto, CA and has subsidiaries in Mumbai and Bengaluru, India and Herzliya, Israel.
A team from Petsky Prunier, led by Sanjay Chadda, Matthew Kratter, and Michael Petsky, served as exclusive financial advisor to WineAccess.
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