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Digital Wine Ventures acquires Kaddy marketplace, raising equity
Anthony Macdonald, Yolanda Redrup and Kanika Sood
Oct 13, 2021 – 10.50am

Global beverage market disruptor Digital Wine Ventures is acquiring local wholesale beverage digital marketplace Kaddy, and raising $14.75 million to help fund the deal.
The total acquisition price is $34.25 million, made up of $6.75 million in cash and the rest in scrip.

Kaddy co-founders Rich Coombes (left) and Mike Abbott. Supplied
Upon completion of the acquisition, Digital Wine Ventures will have 10,000 products across its platforms (its main investment is Winedepot) and service about 1850 buyers, including Cellarbrations, Solotel and Porter’s Liquor.
Of the cash component of the deal, 70 per cent of it will go to Kaddy’s independent shareholders, with the remaining 30 per cent going to the founders and senior employees, despite the later group still owning more than 62 per cent of the business.
The founders and senior employees will be able to earn performance shares of up to 4.5 per cent of the fully diluted capital of Digital Wine Ventures, subject to various milestones.