Intervine becomes 100% employee owned

By hotmaillogin

Intervine, a leading global supplier of wine to international airline companies announced this week it has become 100% employee-owned. Headquartered in Napa Valley, California, Intevine accomplished the transition through its Employee Stock Ownership Plan.

With over 300 wineries around the world under representation, Intervine is a global leader in full-service beverage distribution, sales and marketing to airlines and cruise operators. In 2018, Intervine sourced and supplied more than 1.4 million cases of wine flying on 30 airlines in Asia, Europe, the Middle East and North America as well as sailing on more than 15 major cruise lines.

During a surprise celebration in January, founders Colleen May and Michael Borck presented each team member with T-shirts emblazoned with “I Just Bought a Company” alongside Intervine’s logo.

SEE ALSO: 

“It’s long been our dream to give back to the those who have made Intervine the world leader it is today,” said May. “We saw this as the best way to ensure the long-term sustainability of the team-oriented culture and success we have built together.”

Borck, who co-founded Intervine with May in 1991, called it one of the proudest days of his life. “We have always believed that investing in talented, highly skilled people is what separates good companies from exceptional companies. Now this amazing team will enjoy all the benefits of being employee-owners.”

Share

Featured Articles

Sustainability, ESG, net zero in focus at must-attend event

Sustainability takes centre stage at two-day hybrid conference featuring thought leaders covering circular economy, scope 3, ESG, B Corp, net zero, DE&I

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Leadership & Strategy

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI