Off-Piste Wines secures investment to drive expansion
Off-Piste Wines has secured investment from business investor BGF to support further growth. The investment gives BGF a minority stake in the company.
The funds will be used to develop Off-Piste’s long-term growth strategy, including the expansion of its wine range and development of new partnerships and international distribution.
Off-Piste’s portfolio of brands is led by Most Wanted, its premium mainstream range sourced from around the world. More recently it launched a canned range of sparkling Pinot Grigio under the Most Wanted and PinotPinot brands. According to Nielsen data, Off-Piste brands had 61% of the UK canned wine market in value terms in the year to August 10, 2019.
Andy Fennell, ex regional president at Diageo, will be joining the board art completion as chairman. Outgoing chairman, Jerry Lockspeiser, said: “When I joined Off-Piste almost 10 years ago there were six people and no clear strategy. Since then we have built the company to being one of the UK’s leading off-trade wine suppliers.
"To grow this brilliant, creative, customer-focused business to the next stage requires different skills from a chairman and I am delighted to be handing the baton to Andy Fennell who has a wealth of experience ideally suited to the task.”
Clem Yates MW is also leaving the company and her replacement will be announced early this year.
Andy Talbot, managing director of Off-Piste Wines, said: “Since our creation 13 years ago we have developed strong, trusted partnerships with a carefully selected group of like-minded producers in our favourite regions, to bring customers an impressive selection of wine in all shapes and sizes. We are delighted to be partnering with BGF for this exciting next step – having an investor with market expertise and that is also invested in our vision for the business is crucial.”