Tech

Wine Depot gets 100% Kaddy

WineDepot dramatically strengthens its position at the forefront of the digital alcoholic beverage market, Khadi The two businesses will be combined to form Australia’s largest alcohol-focused cloud-based logistics and marketplace platform.

Dean Taylor, CEO of WineDepot, has significantly accelerated WineDepot’s growth trajectory by uniting with another major innovator that strongly complements its business, bringing products unmatched to the $ 17 billion Australian wholesale liquor market. Said to offer.

“Our vision for digital transformation of the alcoholic beverage market is always based on the industry’s ability to create an integrated technology platform that can be used to connect, simplify, deliver and share released values. A platform that incorporates a next-generation B2B marketplace supported by logistics, order management, and payment solutions, enabling the supplier ecosystem to serve its customers.

“The merger represents a breakthrough in delivering the ability to realize that vision and expand quickly in both Australia and overseas markets. Joining forces with Mike, Rich and other Caddy teams. We’ve seen the Kaddy team grow over the last two and a half years, and it’s clear that they’re building an industry-accepted market-leading B2B beverage market. “Taylor said.

Since their founding (coincidentally, both in September 2019), with WineDepot Khadi We have developed technical solutions to address the growing fragmentation of the liquor industry. Both of them have grown prominently in their respective markets. WineDepot is currently the industry-leading integrated trading, logistics and payment management technology platform operated primarily in the wine industry. At the same time, Kaddy is a major B2B wholesale beverage market operating primarily in the craft beer, spirits, cider and selzer sectors.

Both companies are enjoying a rapid growth trajectory. Together, the integrated operations instantly account for over 1,900 buyers across the on-premises and off-premises segments, with over 1,000 suppliers of alcoholic beverages accounting for over 10,000 products.

The main benefits for buyers are the integration of the two businesses, with a much wider range of products and suppliers to choose from, lower cost, greater convenience and a better fulfillment experience.

“The depth, variety and variety of our combined product range is impressive, with a focus on crafts, independents, boutiques and emerging brands that are not currently available in mainstream distribution.

“Provides suppliers with access to an increased pool of qualified buyers, reduced customer acquisition costs, seamless entry into new markets, and simplified back office functions such as invoicing and payment guarantees.

“We can easily and quickly integrate the technologies introduced by each company to create synergies that benefit suppliers, retailers and distributors alike. This process releases value within a few months. It’s expected to start, “says Taylor.

Digital Wine Ventures (DW8: ASX), which is listed on WineDepot’s parent company ASX, is an institutional investor and to fund acquisitions and related costs and to fund expansion of Kaddy’s market development. Raised $ 12.75 million through sophisticated investor placement. The company also announced that it would invite more than 10,000 existing retail investors to participate in financing through the $ 2 million Stock Purchase Plan (SPP) under the same terms.

Subject to the approval of DW8 shareholders, Kaddy shareholders will receive $ 6.75 million in cash and 484.9 million shares of DW8. Approximately $ 5.3 million of the funds raised will be used to accelerate the expansion of Kaddy’s B2B market. Currently, the total annual revenue of the merged entities before the merger is estimated to be approximately $ 21 million, and the estimated total annual market value (GMV) of the market businesses before the merger is $ 18 million.

Kaddy co-founder Mike Abbott (pictured right) joins the board of directors of Digital Wine Ventures, with Head of Platforms that integrates the WineDepot / Kaddy business and Kaddy’s other co-founder Rich Coombes (pictured left). Participate as follows. The person responsible for the commercial. Dean Taylor, the founder of Wine Depot, continues to be the CEO of the integrated entity.

Digital Wine Ventures will change the name of the holding company at its next annual shareholders meeting in search of shareholder approval, reflecting the fact that the entire market is not limited to wine.

“Our entire team is excited to work with WineDepot. For existing customers, we will soon be able to enjoy even greater value across a wide range of products with the same orders, invoices and deliveries. This is just the beginning of what promises to be a real revolution in the wholesale beverage industry, “Abbott said.

Many strategic investors, including John Zangories, founder of the Urban Perveyor Group and founder of the Four Pillars Distillery, will also participate in the DW8 share registration as part of their financing and acquisition.



Wine Depot gets 100% Kaddy

Source link Wine Depot gets 100% Kaddy

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