Avon Road Partners of New Hope is one of several lead investors in the Miami-based Fun Wine Company, Inc. Fun Wine specializes in “better-for-you,” low-alcohol wine drinks, bearing the brands Fun Wine Hard Bubbly and the Café Graffiti Collections.
Fun Wine recently closed a financing of $6 million in eight-percent two-year notes, convertible at a valuation of $90 million.
Avon Road Partners was joined in the venture by:
- Cedarview Capital Management of New York City
- Ross Family Trust of Boca Raton
- A private New York investor
Fun Wine Founder and CEO Joe Peleg commented: “We have invested over $15 million in the business to get to this point in our company’s growth, and are elated that new investors continue to find Fun Wine as exciting an investment opportunity as we do.”
The company’s product line comprises low-alcohol, low-calorie, all-natural, sparkling drinks produced by the largest wine group in Europe. Flavors include Strawberry Rose Moscato, Peach Passion Moscato, Coconut Pineapple Chardonnay, Cappuccino Chardonnay, Espresso Cabernet, and Sangria, and it is sold at retailers that include Wegmans and Whole Foods.
