Taste Radio

When an entrepreneur sells their company, it’s usually a cause for celebration. But when Alix Peabody, the founder of pioneering canned wine brand Bev, sold her company to global wine and spirits conglomerate E & J Gallo, she knew that not everyone would be cheering. Launched in 2017, Bev is known for its chic label design, better-for-you positioning and promotion of “empowerment and inclusivity in beverage and beyond.” E & J Gallo obtained exclusive U.S. distribution rights for Bev in February 2021 and acquired the company last June. At the time, Peabody hailed “Gallo’s values and commitment to women and diversity in the industry [as] exemplary of the exact change we aim to create.” It seemed like an ideal partnership, but Peabody quickly found herself isolated from many of her closest friends, co-workers and advisors who were unhappy with her decision to sell Bev. In this episode, Peabody chronicled the three years leading up to Bev’s acquisition, how she analyzed the timing and opportunity to sell