Winebuys.com hires investment firm to seek partner
Discount wine seller Winebuys.com LLC has hired investment firm Eagle Partners LLC to manage its search for a strategic partnership or merger target, Winebuys said today.
Winebuys CEO Hal Gershman said the goal is to find another company or consortium that can help the retailer to grow at a greater economy of scale. Launched in September 2003, Winebuys.com had 2005 revenue more than double that of 2004, the retailer says. It specializes in offering daily discounts on its entire wine selection and its site offers shopping features that let customers search by wine taste and by combinations of wine and food.
“This isn`t a quest for capital,” Gershman said. “It`s a quest for a partner who shares our respect for the customer, coupled with a vision for enhanced growth -- either through a merger of shared resources, or through an expansion of that partner`s core business model.”
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