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Earnings Report, Vintage Wine Estates

2 Firms Agree to Acquire RNDC Michigan Business

Great Lakes Wine & Spirits (GLWAS) agreed to acquire RNDC Michigan’s ADA business and, together with Imperial Beverage and Vintage Wine Company, to acquire RNDC Michigan’s wine business. GLWAS is also partnering with National Wine & Spirits (NWS) to acquire RNDC’s building in Livonia. The acquisitions are

Vintage Wine Revenue Rose 33% in Fiscal 2022, So Why Did a Small Loss Cause Stock to Plunge 40%?

The loss was $571,000 against net revenue of $293,770,000. That's right, the stock plunged 40% because the company incurred a loss of 0.0019% of net revenue. One answer, suggested by CEO/founder Pat Roney, was changes in VWE's accounting operations, including a