Beedie Capital Partners has announced the closing of private financing for Taste Inc., dba Vino Volo. BCP is committing $7 million in growth capital through a series of debt and standby facilities for Vino Volo.
The financing will be used to fund the continued expansion into airport locations and support the recently launched loyalty and direct-to-consumer program.
“We have been thoroughly impressed by Vino Volo at every level, from the passion and experience of the management team and board, to the financial metrics being delivered during this growth phase, to the quality of the offering being put forward across every location in the network,” says Randy Garg, managing partner of BCP. “Vino Volo clearly has a commanding lead in its category and still has substantial room for continued growth, through additional locations, international expansion opportunities, and introducing new and innovative ways of getting even closer to their loyal and passionate customer base both inside and outside of the airport.”
The wine bar offers travelers wine tastings, by the glass and by the flight, as well as small plates such as smoked salmon rolls, brie and prosciutto sandwich, cheese and charcuterie plate, truffled penne and cheese, and chickpea and chorizo chili. Customers also can sample and buy product to carry onto their flights. Vino Volo was founded in 2004 by CEO Doug Tomlinson and has 31 locations.
“Randy and his team at BCP were fantastic to work with,” says Tomlinson. “With their previous experience working with multi-location businesses, they quickly understood our business model and expansion plans and were able to act decisively to commit the level of resources needed. As a high-growth company, it is critical to have financial partners who understand how to support growth, add value and can keep pace. We really look forward to developing a long-term relationship with BCP as one of our key financial and business partners.”
