The Backstory Behind E&J Gallo’s Acquisition of Barefoot Cellars
Michael Houlihan and Bonnie Harvey built Barefoot Cellars to sales of more than 600,000 cases of wine per year when they got the attention of E&J Gallo, America’s largest winemaker.
Gallo was impressed with how quickly a $7 bottle of Barefoot moved off retailers’ shelves and were intrigued by Barefoot’s use of grassroots sponsorship to grow a national brand. Rather than compete with Barefoot, Gallo decided to buy the business. In this episode, you’ll learn:
- Why the best goals are often set for you
- How to use distributors to win the attention of an acquirer
- The difference between a vanity and a strategic buyer
- The single most important thing you need to do before you put your business up for sale
- How to create a silent auction for your company