WX Brands, a global wine company with brands that include Chronic Cellars, Bread & Butter, Trapiche, True Myth and Jelly Jar, announced that founder Peter Byck will transition from his role as CEO and will be succeeded by COO Oliver Colvin.
The change will take effect January 1. After 23 years, Byck said the time was right for the move to Oliver Colvin, a 22-year veteran of the company. Colvin has held various positions at WX Brands as head of operations, head of international sales as well as the company’s US sales. Most recently, he has been the Chief Operating Officer and General Counsel, a position he has held for 10 years.
“This company started as an idea on a PowerPoint deck in my home,” Byck said in a press release, “and today, driven forward by Oliver, our executive committee and talented team members, we’ve transformed WX Brands into a top 13 US wine company.
“Oliver has been a key contributor to the company’s success and is the right person to continue to drive WX’s tremendous success at this time.”
Byck will continue to be an individual shareholder and will serve as senior advisor to the board of directors of WX Brands following the transition.
The company has made moves to position itself for continued growth over the past decade, acquiring Chronic Cellars in 2014, the same year it opened its bottling line. It acquired Bread & Butter in 2017 and the Baileyana Wines portfolio in 2020.
Last year, WX Brands sold a majority state of the company to the Bemberg Family Group’s Terold investment group. The company also owns Grupo Peñaflor, the leading Argentine wine company, as well as a distribution and production agreement for Diageo’s spirits products in Argentina, Chile, Uruguay, and Paraguay.
“I’m thrilled to now lead our stellar team and supportive partners through the next phase of WX Brands’ expansion,” Colvin said. “I want to continue what Peter has built: a company culture of grit and teamwork, two characteristics that have enabled our success thus far and will carry us into the future.”
Prior to joining WX Brands, Colvin was Senior Vice President and Assistant General Counsel at Silicon Valley Bank and, prior to that, he was a partner in the law firm Fthenakis & Colvin.
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