Company is an emerging category leader in wine cocktails, the No. 1 growth segment in wine that Nielsen projects will increase by over 400% through 2025
MIAMI, Jan. 31, 2023 — The Fun Wine Company, Inc., developer of a game-changing, innovative product line of better-for-you Premium Wine Cocktails, announced today that it had commenced an offering of $15 million in 5-year, 9% Convertible Notes, with the proceeds to be used primarily for marketing and to expand Fun Wine’s business in the US, Asia and Latin America. Lead investor Starr Insurance Companies purchased the first $2,500,000 of the Notes.
Fun Wine has been steadily on course recently to lead the rapidly expanding ready-to-drink (RTD) wine cocktail market. In the past 2 years, Founder & CEO Joe Peleg and his team created:
(1) A refreshingly innovative 5.5% ABV, 59-calorie, all-natural, flavored and sparkling RTD Product Line – the Fun Wine Hard Bubbly Collection® and Café Graffiti Collection®, packaged in attractively priced ‘work of art’ 750 mL glass and 330 mL aluminum bottles.
(2) A reputable, sustainable and scalable Tier 1 Supply Chain with Les Grands Chaise de France, the largest winemaker in Europe.
(3) A National US Distribution Network led by the 2nd largest US alcohol distributor, Republic National Distributing Company.
(4) A rapidly growing International Distribution Network that positions the company for meaningful revenue growth, initially in Asia and Latin America.
(5) A long-term agreement with 7x Grammy Award Winner Christina Aguilera as the company’s Chief Culture Officer, to generate awareness of the brand and its unique premium wine cocktails.
CLICK HERE to view the Fun Wine product video.
About FUN WINE®
Fun Wine’s mission is to foster socially responsible drinking with refreshing and flavorful, all-natural, low alcohol, low calorie wine cocktails that appeal to health-conscious consumers. The ‘game changing’ company is one of the most innovative in the alcohol industry and aligns its messaging with Art, Fashion and Music. Working with an international development team, Fun Wine was first to use monk fruit juice in wine, was first to develop a 330 mL aluminum bottle for the wine industry and was first to develop coffee wine cocktails – Espresso Cabernet™ and Cappuccino Chardonnay™. In addition, Fun Wine will soon launch the Fun Wine Metaverse Platform for consumers, distributors and retailers.
FUN WINE CHECKS ALL THE BOXES. With 5.5% ABV and its introduction of monk fruit juice, Fun Wine’s all-natural cocktails are low in calories and carbs and gluten free. All Fun Wine products come in eye-catching, recyclable 750 mL glass and 330 mL aluminum bottles and are sold at attractive prices of less than $8 for a 750 mL bottle and $3.50 for a 330 mL aluminum bottle, with current economic conditions providing additional consumer appeal. The brand has a distribution network in 44 states and Washington D.C., and overseas in Bulgaria, Costa Rica, Dominican Republic, El Salvador, Guatemala, Mexico, Singapore, and South Korea. Looking to future expansion, the company has trademarks registered in over 50 countries. During the product’s evolution, through initial development, market research and product testing, the brand sold 460,000 physical cases in the US and overseas, generating approximately $10 million in sales, and resulting in sales velocity in the US of 1.5 times average wine and 2 times in select markets. US retailers include the Pennsylvania Liquor Control Board, Stew Leonard’s, Walmart, Kroger, Target, Ralph’s, Harris Teeter, H-E-B, Wegmans, Total Wine & More, Whole Foods, HyVee, Rite Aid, King Kullen, Kinney Drugs, Tops, Sav-A-Lot, Shoprite, Stop & Shop, Circle K, 7-Eleven, and much more.
FUN WINE®, FUN®, HARD BUBBLY COLLECTION® and CAFE GRAFFITI COLLECTION® are registered trademarks of FUN WINE (USA) LLC.
www.funwine.com – @Funwineofficial
For further information or access to the Offering Presentation, please contact:
Joseph Bernstein
Co-Founder & Executive Chairman
The Fun Wine Company, Inc.
[email protected]
+1.917.365.3651
SOURCE THE FUN WINE COMPANY
