Applejack Wine & Spirits, LLC is one of the nation’s largest independent single-location liquor retailers.
Sourced opportunity from a proprietary relationship after a failed auction, leading to an acquisition at a below-market EBITDA multiple.
Hired top-tier industry talent to bolster management team.
Hired a full Senior Leadership Team including a Chief Marketing Officer, Chief Operating Officer, and Chief Financial Officer.
Completed an intense lobbying effort surrounding Colorado state liquor laws to protect existing market position and ensure significant avenues for growth through multiple locations.
Implemented “institutional best practices” across the company’s policies, procedures, reporting, and insurance and created a succession plan for existing management.
Installed a bank facility at close to create an efficient and flexible capital structure to enable significant “bulk buys” to reduce cost of goods sold.
Integrated a new Point-of-Sale system and Net Suite by Oracle as the company’s Enterprise Resource Planning system, which improved operating efficiencies, inventory management, and financial transparency.
Overhauled Applejack’s marketing efforts, completing a brand refresh, including a new ecommerce-enabled website, an ERP enabled loyalty program, and consistent and frequent live events.
Progress & Impact
Mantucket realized the investment in July 2018 by selling Applejack to another Denver-based family office.
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