Napa-Based New Vine to Resume Operations Following IBG Investment

Napa, Calif. -- Inertia Beverage Group (IBG), a Napa-based developer of online tools that let wineries manage direct sales, said on Friday that it has reached a deal with Silicon Valley Bank that will allow New Vine Logistics, a Napa-based provider of compliance and fulfillment services to the wine industry, to resume operations. Under the deal, IBG will purchase the bank's debt position in the company, then provide New Vine with an undisclosed amount of interim cash funding. The news comes a week after New Vine abruptly ceased operations amidst financial problems. "Operations are already gearing up and we are confident in the ability of New Vine's operational team and employees to quickly respond," said Ted Jansen, the president and CEO of IBG. Founded in 2001, New Vine has developed fulfillment systems that allow wineries to directly ship their products to 44 states.
http://www.newvinelogistics.com/
http://www.inertiabev.com/
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