Ohio area private label winemaker acquired
An investment fund has acquired the largest wine-making operation in Ohio and a major producer of juice on the East Coast.
S’quared Holdings, a fund jointly owned by the winemaker RedHead Brands and a metal refinery I. Schumann & Co., acquired L’uva Bella Winery in Poland Township, Ohio. The winery makes wine for RedHead, as well as store brand wines and wines for bulk distribution. The company also distributes juices for both winemaking and other uses, per a story in the Business Journal Daily.
The acquisition comes at a time when U.S. sales of alcoholic beverages are up 55% the week of March 21, the story said. RedHead wines that are in 2,000 locations will now run under the L’uva Bella portfolio, too.
The company hopes to expand by 15 employees over the next three to five years, per the article. Read the full story here.