Wedding season is just beginning, but the North Fork has already played host to an exciting marriage between established winemakers Lieb Cellars and Premium Wine Group (PWG). Established in 1992 and 2000 respectively, these important North Fork wine companies are merging and recapitalizing to ensure continued growth.
Russell Hearn, Director of Winemaking and Production at PWG, said: “We are using the collective and considerable talents of our team to continue developing award-winning, estate-produced wines and other products and services.”
The two companies have received substantial funding through their parent company, Southport Lane, a private equity firm focused on growing its portfolio of businesses, comprising mostly complex, highly-regulated organizations. Southport Lane selected Lieb Cellars and PWG based on their exceptional offerings, including a rare, East Coast-based “custom crush” business, which is the production home of many North Fork wineries.
In addition, Peter Pace, who has been with the companies for the past 14 months, has been appointed Managing Director. Pace brings extensive beverage industry expertise to his new position and will be responsible for running the day-to-day business of the combined companies.
Alexander Burns, Chief Strategist at Southport Lane, said: “The team’s passion for the business reflects our belief in the strength and quality ofthese companies. The combination of our expertise, along with Peter’s marketing strengths, gives us an even stronger operation.”
Mark Lieb, who founded Lieb Cellars and cofounded Premium Wine Group, will remain as Chairman of the Board of the newly merged company.