Vintage Wine Estates Names Rodrigo de Oliveira as Vice President Supply Chain

INCLINE VILLAGE, Nev., May 18, 2023 (GLOBE NEWSWIRE) -- Vintage Wine Estates, Inc. (NASDAQ:VWE) ("VWE" or the "Company"), one of the top wine producers in the U.S. with an industry leading direct-to-customer platform, today announced the appointment of Rodrigo de Oliveira as Vice President Supply Chain. Mr. de Oliveira brings deep domestic and international experience in operations/supply chain leadership, manufacturing product development, organizational restructuring, M&A integration, business turnarounds, and continuous improvements. Much of his experience has been with consumer products businesses.

Jon Moramarco, Interim Chief Executive Officer commented, "Rodrigo is an innovative, high-performance, multi-lingual leader that brings significant know-how in supply chain and logistics management. These are key areas of focus for VWE to drive operational efficiencies and cost reductions. We expect that his breadth of experience in operations and business turnarounds will be of great value as we work to simplify our product lines and reduce our production footprint."

Mr. de Oliveira joined VWE this week from Greenlane Holdings, Inc., a cannabis accessories and lifestyle products company where he was the Chief Operating Officer. Prior to that, he was at KushCo Holdings which merged into Greenlane Holdings, Inc. Previously, he held various leadership positions in supply chain, logistics and operations at Nike's accessories business and Brightstar Corp. Early in his career, Mr. de Oliveira had held various positions in operations, supply chain and logistics with Oakley, Inc. and General Electric in São Paulo, Brazil.

About Vintage Wine Estates:

Vintage Wine Estates is a family of wineries and wines whose singular focus is producing the best quality wines and incredible customer experiences with wineries throughout Napa, Sonoma, California's Central Coast, Oregon, and Washington State. Since its founding 20 years ago, the Company has grown to be the 14th largest wine producer in the U.S., selling more than two million nine-liter equivalent cases annually. To consistently drive growth, the Company curates, creates, stewards, and markets its many brands and services to customers and end consumers via a balanced omni-channel strategy encompassing direct-to-consumer, wholesale, and exclusive brands arrangements with national retailers. While VWE is diverse across price points and varietals with over 60 brands ranging from $10 to $150 USD at retail, its primary focus is on the fastest growing luxury segment of the U.S. wine industry with the majority of brands selling in the range of $10 to $20 per bottle. The Company regularly posts updates and additional information at vintagewineestates.com.

Forward-Looking Statements

Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements are all statements other than those of historical fact, and generally may be identified by the use of words such as "believe," "expect," " "may," "plan," "should," "will," or other similar expressions that indicate future events or trends. These forward-looking statements include, but are not limited to, statements regarding VWE's current and future skills, capabilities, and performance of its management and executive team, and business plans and strategies. These statements are based on various assumptions, whether or not identified in this news release, and on the current expectations of VWE's management. These forward-looking statements are not intended to serve as, and should not be relied on by any investor as, a guarantee of actual performance or an assurance or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ materially from those contained in or implied by such forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the control of VWE. Factors that could cause actual results to differ materially from the results expressed or implied by such forward-looking statements include, among others: the Company's limited experience operating as a public company and its ability to remediate its material weakness in internal control over financial reporting and to maintain effective internal control over financial reporting, the ability of the Company to retain key personnel, the effect of economic conditions on the industries and markets in which VWE operates, including financial market conditions, rising inflation, fluctuations in prices, interest rates and market demand; risks relating to the uncertainty of projected financial information; the effects of competition on VWE's future business; risks related to the organic and inorganic growth of VWE's business and the timing of expected business milestones; the potential adverse effects of the ongoing COVID-19 pandemic on VWE's business and the U.S. economy; declines or unanticipated changes in consumer demand for VWE's products; VWE's ability to adequately source grapes and other raw materials and any increase in the cost of such materials; the impact of environmental catastrophe, natural disasters, disease, pests, weather conditions and inadequate water supply on VWE's business; VWE's level of insurance against catastrophic events and losses; VWE's significant reliance on its distribution channels, including independent distributors; potential reputational harm to VWE's brands from internal and external sources; possible decreases in VWE's wine quality ratings; integration risks associated with recent acquisitions; possible litigation relating to misuse or abuse of alcohol; changes in applicable laws and regulations and the significant expense to VWE of operating in a highly regulated industry; VWE's ability to maintain necessary licenses; VWE's ability to protect its trademarks and other intellectual property rights; risks associated with the Company's information technology and ability to maintain and protect personal information; VWE's ability to make payments on its indebtedness; and those factors discussed in the Company's most recent Annual Report on Form 10-K and in subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission. There may be additional risks including other adjustments that VWE does not presently know or that VWE currently believes are immaterial that could also cause actual results to differ from those expressed in or implied by these forward-looking statements. In addition, forward-looking statements reflect VWE's expectations, plans or forecasts of future events and views as of the date and time of this news release. VWE undertakes no obligation to update or revise any forward-looking statements contained herein, except as may be required by law. Accordingly, undue reliance should not be placed upon these forward-looking statements.

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