Market Watch, March 1, 2017

Taub has embraced several new challenges over the past few years Palm Bay entered the California wine business in 2014 and now has three labels from the Golden State The company acquired Pasternak Wine Imports in December 2016 and is busy incorporating its portfolio and staff into his Esprit du Vin busi ness Since that deal he has also restructured the Taub Family umbrella to better represent its growing array of products divi sions and employees In addition Palm Bay has introduced some new spirits brands and set plans for several more including the companys first self produced spirits in decades Taub has also embraced new technologies enlisting contemporary computer systems and infrastructure to help modernize the import and sales businesses From the time I was a young boy I got to see my grandfa ther and my father work together in pretty tight quarters Taub says They both had a strong work ethic To get my time with them I really had to be part of what they were doing That hands on training gave me the opportunity to learn every facet of the business and Ive never looked back Its some thing Ive always wanted to do Brand BuildingMuch of the Taubs success can be attributed to their knack for anticipating wine trends In the late 1970s when the most popular Italian white wine import was Soave David bet big on Pinot Grigio and reaped huge rewards He and Martin founded Palm Bay in 1977 by partnering with Cavit a then unknown wine producer in the northern Italian province of Trentino to bring its Principato label into the United States In the late 1970s and into the 80s David and Martin saw Italy as a source of quality that was virtually untapped says Palm Bay executive vice president Michael Petteruti Italian fine dining was in its formative years in the early 80s so there was an opportunity in the marketplace Restaurants were looking for Italian wines Selling them was relatively easy The Principato brand launched with red white and rosé blends and soon added Pinot Grigio and other single varietal wines Today Principato offers Pinot Grigio a Pinot Grigio Chardon nay blend Pinot Noir and a Cabernet Sauvignon Merlot blend The labels quick rise in the U S market soon led to the addition of Cavits own wine label which today boasts eight expressions The Principato and Cavit brands were early leaders for Palm Bay and remain strong performers Our collaboration with Cavit allowed us to build Palm Bay into what it is today Taub says He notes that the Principato brand advanced quickly to a half million cases which helped bolster Pinot Grigio overall As we grew Pinot Grigio from its earliest days we realized it was built to last Taub explains My dad always believed that American consumers would enjoy the flavor profile of Pinot Grigio and the wine is still growing 40 years later Just as Palm Bay has grown and evolved so too has the part nership with Cavit Today Palm Bay imports 10 wine brands produced by Cavit its eponymous label 899 a 750 ml an Impact Blue Chip brand at 36 million cases in 2015 and its Cavit Crus selections Arèle Vino Santo and Quattro Vicar iati as well as Principato Roscato Bottega Vinaia Alta Luna Porta Vita and the sparkling brands Lunetta and Altemasi all 1399 to 1999 Roscato 1199 to 1499 which made its national debut in 2011 in Olive Garden restaurants and expanded into the off premise a year later is one of Cavits most recent triumphs now boasting seven expressions Prosecco Sparkling Moscato Sparkling Sweet Red Bianco 28 MARKET WATCH MARKETWATCHMAG COM MARCH 2017 Theres more diversity in wine than probably any other business on Earth Marc Taub TAUB FAMILY COS AT A GLANCEFoundedKey ExecutivesHeadquartersNumber of EmployeesSupplier PartnersAnnual Case VolumeWebsitesFuture Plans1977 with the founding of Palm Bay ImportsMarc Taub president and CEO of Taub Family Cos including Palm Bay Interna tional and Esprit du Vin Fine Wine Merchants Mike Petteruti executive vice president of Palm Bay Harish Parekh CFO of Palm Bay Casey Tedd senior vice presi dent of national sales for Palm Bay Marcy Whitman senior vice president of brand development and marketing for Palm Bay Giacomo Turone senior vice president of brand development and portfolio manage ment for Palm Bay and Bethany Burke senior vice president of PR and corporate communications for Palm BayPalm Bay International is located in Port Washington New York Esprit du Vin Fine Wine Merchants is based in Syosset New York 300Palm Bay International works with roughly 50 suppliers while Esprit du Vin Fine Wine Merchants has 40 Approximately 6 million casesPalmbay com and Edvwines comPalm Bay International has several new products readying for release this year including wines from Australia and a vari ety of spirits from an American whiskey to an Irish gin Palm Bay will also launch a tasting room for its California wine brand Au Contraire in Sonoma in the second quarter of 2017 For Esprit du Vin Fine Wine Merchants the company continues to work on integrating its portfolio follow ing the acquisition of Pasternak Wine Imports in late 2016