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“Mistral shares our… vision for rapid growth with a number of exciting opportunities ahead of us“ |
Doug Tomlinson Founder & CEO Vino Volo |
US. Mistral Equity Partners, a private equity firm focused on the consumer and retail sectors, announced today that it has invested over US$10 million of growth capital in fast-growing airport wine bar operator Vino Volo.
Vino Volo pioneered the airport wine bar concept in the US and is the leading player in a sector that was previously largely overlooked. It offers travellers fun and interactive wine tasting flights, wines by the glass, small plates, and a distinctive wine retail selection.
For two successive years it has shared the “˜Best Airport Wine Bar’ accolade at the annual Airport Food & Beverage (FAB) Awards run by The Moodie Report and sister title The Foodie Report.
The company was founded in 2004 by Chief Executive Officer Doug Tomlinson with the strategic vision of becoming “the world’s favorite wine destination”, by making wine approachable and accessible to novices while also introducing new wines to experts.
Vino Volo operates 18 airport locations across the US and is positioned for rapid growth there and overseas. New locations opening this year include locations outside of the airport environment. “This will satisfy customer enthusiasm for the high quality wine flights, small plates, and retail wine selection currently available only in airports,” Mistral and Vino Volo said in a statement.
“Vino Volo’s position as the market leader in the attractive airport segment, along with its proven ability to build and operate profitable locations across the country, provides many compelling near term growth opportunities,” commented Andrew Heyer, Managing Partner of Mistral Equity Partners.
“We believe that the company is well positioned to be the national wine authority across multiple channels in and out of the airport, offering a differentiated and best-in-class experience to consumers.”
“We are excited to partner with Mistral to accelerate the next phase of our growth,” said Tomlinson. “Mistral shares our desire to revolutionise how people experience wine through unique product offerings and exceptional service, and our vision for rapid growth with a number of exciting opportunities ahead of us.”
Vino Volo was represented in discussions by Partnership Capital Growth.
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ABOUT MISTRAL EQUITY PARTNERS AND VINO VOLO
Private equity firm Mistral Equity Partners specialises in the consumer, retail, and consumer focused media sectors, and is especially attracted to businesses that are supported by strong demographic trends and fundamental changes in consumer preferences. Its portfolio includes popular airport spa operator XpresSpa Holdings and juice concept Jamba, Inc.
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Vino Volo establishments combine an upscale wine lounge, restaurant and boutique wine shop under one roof, and are primarily located in airports across the US.
It operates in the following airport locations: Baltimore, Detroit, Newark, New York JFK, Oakland, Philadelphia, Sacramento, Salt Lake City, San Antonio, San Francisco, Santa Ana and Washington. For more information, visit www.vinovolo.com
