Napa-based Intervine, which claims to be one of the world's largest suppliers of wine airlines and cruise ships, has new owners — its employees.
The announcement included a picture of employees wearing T-shirts that say, “I just bought a company.”
“It’s long been our dream to give back to the those who have made Intervine the world leader it is today,” said co-founder Colleen May in the announcement. “We saw this as the best way to ensure the long-term sustainability of the team-oriented culture and success we have built together.”
Michael 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," he said in a statement. "Now this amazing team will enjoy all the benefits of being employee-owners.”
The company represents more than 300 wineries around the world for sales, marketing and distribution to airlines and cruise lines. Last year, Intervine sourced and supplied more than 1.4 million cases of wine to fly on 30 airlines in Asia, Europe, Middle East and North America and sail on more than 15 major cruise lines.
Intervine also manages the wine programs of several airlines, including the three-cabin service of American Airline’s 6,700 daily flights to 350 destinations in over 50 countries.
Ed Matovcik, who has led Intervine over the past nine years as president, has been named president and CEO, the company announced. He has served on several boards, including the Wine Institute and Napa Valley Vintners. Before joining Intervine, Matovcik was a senior executive at Beringer Vineyards.
He is a graduate of Columbia’s School of Business where he earned an MBA in international marketing.
May and Borck will continue their involvement as board chairman and vice chairman, respectively.