Benchmark Wine Group Acquires Wine Spectrum, Inc.

(MENAFN- PR Newswire)

Leading Rare Wine Retailer Benchmark Wine Announces Organizational Consolidation with Foundational Retailer Wine Spectrum

NAPA, Calif., Jan. 7, 2025 /PRNewswire/ -- Benchmark Wine Group , the largest rare wine retailer in the US, announced today that it has acquired Wine Spectrum, Inc. a pioneering Sonoma-based wine retailer. This Acquisition marks a significant milestone in the rare wine retail sector, combining the strengths of two industry leaders to better serve collectors, enthusiasts, and trade customers nationwide.

David Parker, Owner and CEO of Benchmark Wine Group, expressed excitement about the acquisition: "When Glenn Siegel, founder and owner of Wine Spectrum, proposed combining our businesses, it was immediately clear how complementary our resources and approaches were. By consolidating, we're creating a powerhouse of rare wine expertise and customer-focused services. Together, we'll expand product access, enhance operational efficiencies, and provide unparalleled service to our clients."

Wine Spectrum, with over 30 years of experience in high-touch sales and a loyal customer base, brings a strong reputation for sourcing and delivering top-tier new-release wines. Benchmark Wine Group contributes its extensive inventory of rare and back-vintage wines, industry-leading technology, and proven customer service model.

"Wine Spectrum's legacy of personal, relationship-driven sales aligns perfectly with Benchmark's process-oriented and high-energy management style," said Glenn Siegel, President of Wine Spectrum. "This consolidation allows Wine Spectrum to enhance its service offerings while staying true to our shared commitment to quality and customer satisfaction."

Strategic Objectives and Benefits
The consolidation will achieve the following:

• Expanded Product Access: Benchmark's inventory of rare and back-vintage wines will now be available to Wine Spectrum clients, while Benchmark clients gain access to Wine Spectrum's exclusive allocations and new releases.
• Operational Synergies: Combining resources will reduce overhead, streamline logistics, and allow for shared expertise in inventory management and sourcing.
• Enhanced Customer Engagement: Benchmark's renowned Provenance Guarantee will extend to all products sold under this partnership, providing peace of mind for collectors.
• Broader Market Reach : By joining forces, the companies will strengthen their presence in California, New York, Arizona, and Florida, while exploring new opportunities in digital sales and client outreach.

Jennifer Adams, General Manager of Wine Spectrum, will lead this effort with assistance from the Benchmark senior management team. "This consolidation is about more than combining operations; it's about elevating the fine wine experience for our customers. Both companies share a commitment to excellence, and I'm confident this partnership will set a new standard in the industry."

Seamless Integration and Future Growth
Benchmark and Wine Spectrum are committed to a smooth transition for employees, customers, and partners. Joint branding initiatives have already begun, including the representation of wines from private collections, and special exclusive offerings directly from top producers such as Sean Thackrey and Helianthus from Futo Estate. By 2025, a unified online platform will allow clients to view and purchase inventory from both companies seamlessly.

David Parker added: "The fine wine market is evolving, and strategic consolidations like this ensure we remain at the forefront. By leveraging each other's strengths, we're creating an unmatched resource for collectors and wine enthusiasts worldwide."

About Wine Spectrum
Founded in 1990, the Wine Spectrum was created to offer the greatest wines in the world to customers nationwide. Wine Spectrum's focus is on creating meaningful, long-term relationships with customers who value their sourcing, educational, and fulfillment prowess. Utilizing modern technology along with a seasoned, knowledgeable and relationship-based human sales force, the company has been a major player in the wine industry for three decades.

About Benchmark Wine Group
Established in 2002, Benchmark Wine Group is a licensed importer, distributor and retailer in California, and the leading source of rare and back-vintage wine for wine retailers, restaurants and collectors around the world. Based in Napa Valley, it acquires the most sought-after wines from top producers, resellers and private individuals. Its affiliates – Brentwood Wine Company dba Benchmark Wine and Spirits in Washington, DC and First Growth Technologies, Inc, publisher of The Wine Market Journal & Spirits Market Journal – and their staff collectively draw on over a century of industry experience, and are dedicated to providing exceptional selection, provenance, pricing and service.

SOURCE Benchmark Wine Group

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