Why Selling Her Company Was The Right - If Unpopular - Decision

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 the company, and the surprising fallout with confidants. She also reflected on how taking a brief respite to focus on her mental health impacted perceptions of her as a leader and Bev's ability to land new investment, and talked about a potential return to entrepreneurship. Show notes: 0:43: Interview: Alix Peabody, Founder, Bev – Peabody and Taste Radio editor Ray Latif recalled their first conversation in 2019, before the entrepreneur spoke about her recent travels and why she returned to Instagram after a self-imposed, months-long hiatus. She also discussed Gallo's interest in acquiring Bev, and why her reluctance to raise millions in new funding was a key factor in her decision to sell, which was also impacted by the challenge of separating her personal and professional relationships. Peabody also talked about the loneliness of entrepreneurship, how a two-month work break to address stress and anxiety yielded a surprising reaction by some colleagues and why she believes that the "best friend you can always rely on should be no one but yourself." Brands in this episode: Bev