NOVATO, Calif.--(BUSINESS WIRE)--Fourth paragraph, third sentence of release dated October 11, 2022, should read: The company also owns Grupo Peñaflor, the leading Argentine wine company, as well as a distribution and production agreement for Diageo’s spirits products in Argentina.
The updated release reads:
WX BRANDS ANNOUNCES UPCOMING LEADERSHIP TRANSITION
COO Oliver Colvin to Become CEO in 2023
WX Brands, a leading global wine company, announced that Peter Byck will transition from his role as CEO and will be succeeded by Oliver Colvin, COO, effective January 1, 2023.
After 23 years founding and leading WX Brands, Peter Byck stated the time is right for the move to Oliver Colvin, a 22-year veteran of the company. Colvin has held various positions at WX Brands as head of operations, head of international sales as well as the company’s US sales. Most recently, he has been the Chief Operating Officer and General Counsel, a position he has held for 10 years.
“This company started as an idea on a PowerPoint deck in my home,” said Byck, “and today, driven forward by Oliver, our executive committee and talented team members, we’ve transformed WX Brands into a top 13 US wine company. Oliver has been a key contributor to the company’s success and is the right person to continue to drive WX’s tremendous success at this time,” he added. Byck will continue to be an individual shareholder and will serve as senior advisor to the board of directors of WX Brands following the transition.
With strong brands, expansion beyond the U.S., and a new owner, the company is well positioned for continued growth. Last year, the Bemberg Family Group announced their Terold investment group purchased a majority stake in WX Brands. The company also owns Grupo Peñaflor, the leading Argentine wine company, as well as a distribution and production agreement for Diageo’s spirits products in Argentina.
“I’m thrilled to now lead our stellar team and supportive partners through the next phase of WX Brands’ expansion,” added Colvin. “I want to continue what Peter has built: a company culture of grit and teamwork, two characteristics that have enabled our success thus far and will carry us into the future,” he added. Prior to joining WX Brands, Colvin was Senior Vice President and Assistant General Counsel at Silicon Valley Bank and, prior to that, he was a partner in the law firm Fthenakis & Colvin.
About WX Brands
WX Brands offers a unique portfolio of wine brands that are sold both domestically and globally. WX also develops exclusive wine brands for retailers around the world. Our wines are sourced from 14 countries and sold in 20 countries resulting in over 4 million cases sold annually worldwide. In February 2022, Wine Business Monthly named WX Brands #13 among the Top 50 largest U.S. wine companies.
