Oliver Winery has been a staple in Bloomington and Monroe County since it opened in 1972. But, the employee-owned company since 2006 no longer belongs to its workers.
Oliver’s new owner is a Manhattan-based private equity firm, NexPhase.
Details of the acquisition were not publicly available.
The winery’s former owner Bill Oliver believes the deal benefits all employees, while helping the business compete in a market that has become increasingly aligned and corporate.
"You take a look at the grocery store set right now, and you look at these 40 feet of wine that’s what six rows high," he said. "About 80 percent of it is three players, and it is kind of scary to see, honestly."
Oliver believes the acquisition allows the winery—which now distributes in 41 states—to better adapt to market changes. He anticipates Oliver will sell its wine in non-traditional packaging in addition to bolstering its sweeter offerings.
Oliver says the winery’s new owner has no plans to lay off employees.
In a press release, NexPhase says it plans to continue investing in Oliver’s current Bloomington facility.
“NexPhase is committed to protecting and nurturing the exceptional company culture and brand that has made Oliver Winery a leader and innovator in the wine industry," Jamie Kaufman, a Partner at NexPhase, said in a written statement. "We look forward to partnering with the Oliver Winery team to support their industry leading growth and intend to continue to invest in their facility in Bloomington, Indiana."
According to the release, Oliver finished 2020 with 40% year-over-year growth.
