New York Firm Invests in Airport Wine Bars
It seems as though one New York-based firm is toasting to flight delays and cancelled flights, in a multi-million dollar investment deal with an airport chain of wine bars, reported Dow Jones.
Mistral Equity Partners is investing more than $10 million of growth capital in Taste Inc., a chain of airport wine bars, which operates at Vino Volo. The company runs 18 locations in airports nationally, and plans to open an additional two or three locations in the next six months. But this time, the locations will be outside of airport security with a handful of locations not affiliated with airports, reported Dow Jones.
The chain specializes in wine flights; the flights feature either two or three glasses to offer a variety to the weary traveler. And customers don’t have to worry about the pesky 4-ounce rule when it comes to liquid carry-ons, since Vino Volo operates behind security lines.
The chain looks to expand beyond airport dining and venture into the cities, to see if its wine sampling model works beyond airport terminals.
“The question and challenge will be, ‘does this company work outside the airport,’” said Mistral Managing Director Andy Heyer to Dow Jones. “If it’s successful, it could be the first wine bar chain.”
The additional locations will be the companies’ first venture outside of an airport according to Dow Jones, with the new locations most likely in McLean, Va., Bethesda, Md., and La Jolla, Calif.
Sean Flynn is a Junior Writer for The Daily Meal. Follow him on Twitter @BuffaloFlynn.