Auction PR Publicity Announcements News and Information
Auction PR Publicity Announcements News and Information

Inertia Offers Vine Auction Bidders Additional Time

Inertia Beverage Group (IBG) announced today that the auction scheduled for the sale of New Vine’s assets will take place on Monday, July 27th at 10 a.m., an extension of 13 days to allow both registered and potential new bidders incremental time to evaluate all available assets.

Under the management of Sherwood Partners, the auction of New Vine’s assets has attracted qualified bidders interested in participating in the auction. The auction notification has been communicated over the last two weeks in both wine industry trade and directly to parties who may have potential interest. In addition, Sherwood Partners has conducted a walk-through of New Vine fulfillment and office facilities for interested parties.

“As New Vine’s lead creditor, we believe that extending the auction date is in the best interest of all parties involved and will strengthen the potential to maximize the value of the New Vine assets,” said Ted Jansen, president and CEO of IBG. “We are particularly encouraged by the fact that several potential new bidders have expressed interest in the entirety of New Vine’s assets, which would secure New Vine’s continued position as a leading company in the direct sales channel.”

The auction is the next step in the process that began with IBG’s recent cash advancement into New Vine, which enabled the continuation of service for customers across the country and benefited creditors by preserving and protecting the value of the collateral being sold. New Vine is fully operational and stabilized as a result of IBG’s interim financing.

“Our goal is to make sure the auction of New Vine assets yields the greatest return for its creditors and this is why we have extended the deadline and expanded the process well beyond the legal requirements,” said Jansen. “It is also important to IBG that this process results in the best opportunities for New Vine customers and employees, the direct sales channel and the wine industry as a whole.”

With the exception of the date, the auction parameters remain the same, and all of New Vine’s assets will continue to be for sale.

Inertia provides solutions for the creation and expansion of online wine marketplaces. Leveraging their proprietary, web-based technologies, Inertia gives wineries, retailers and wholesalers the tools necessary to efficiently distribute their products within the expanding direct-to-consumer and direct-to-trade wine markets. Through its REthinkEngineTM platform, its free regulatory compliance tool, and Marketplace Services programs, Inertia provides its over 500 wine brands access to new marketplaces where supply and demand are united. For more information, visit

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