Largest Ohio winery acquired by millennial investors
L’uva Bella, which claims to be the largest winery by volume in the state of Ohio, has been acquired by Marisa Sergi, 26, and Evan Schumann, 25, through their investment fund, S’quared Holdings.
According to the drinks business
The winery, based in Poland Township, primarily produces bulk wine for private label and retail channels. It also makes a range of grape and other fruit juice products.
The financial details of the transaction have not been disclosed, but the price paid by S’quared Holdings is believed to be “in the mid seven-figure range”.
The winery was founded 15 years ago by Sergi’s father, Frank. Marisa is a third-generation winemaker and already produces wine under the RedHead Wine label, which is distributed in Ohio, West Virginia and Pennsylvania, with plans to also launch in Kentucky, Virginia and Tennessee.
She said she hopes to add further product lines to the winery’s range, as well as branch into organic wine and extend distribution into five to 10 more states.
Read more at source: the drinks business
