Splash Wines has a new president; teams with investment firm

EAGLE — Splash Wines, Inc., a company that ships wine directly to customers’ homes, has hired a new president and retained an investment banking firm to raise capital.

In a news release, Splash said it appointed Bruce Cunningham, a native of Australia and a graduate of The University of Adelaide’s International Wine Marketing program, to run the Eagle-headquartered company, a third-party distributor that operates out of a New York warehouse.

Cunningham has 23 years of experience in the U.S. wine industry, including founding AWDirect, a major wine producer for some of the foremost wine clubs in the country. He sold that company in 2018.

Splash, which was founded in December 2014 by the Imeson family, has been profitable since October 2015 and passed $11 million in revenue last year, according the release. Cunningham’s appointment marks the first time a non-family member has been named to a senior management position in the company.

“Bruce is a perfect fit for the job,” said Robert Imeson, Splash CEO. “He brings to the position a great knowledge of the industry, immense talent and a lot of fresh ideas. He already knows how to be successful, and that fits in well with our culture, which values team chemistry. We expect to do amazing things together and are excited for the next chapter.”

Splash said that it also retained Auctus Capital Partners of Chicago as its exclusive advisor to assist the company in raising growth capital. The round, currently planned for $2.5 million, is projected to be completed prior to the end of the year.

“The appointment of Auctus is an important step for Splash as the company continues to evolve,” said Imeson. “We look forward to a long partnership together.”