Cooper’s Hawk Winery & Restaurants is an American wine company based in Illinois. It operates over 50 locations across 10 states and produces over 65 varietals of wine. Cooper’s Hawk has grown rapidly since its founding in 2005, becoming one of the largest winery chains in the United States. But who actually owns and runs this successful wine company?
The Founders of Cooper’s Hawk
Cooper’s Hawk was founded in 2005 by Tim McEnery and Dan Hoffman. McEnery had a background in the restaurant industry, having previously founded the Chicago-based restaurant company E&E Hog. Hoffman’s background was in wine, having worked for years as a wine distributor. The two friends came together to open the first Cooper’s Hawk tasting room in Orland Park, Illinois in 2005.
The concept was to create an upscale casual restaurant built around a winery. Patrons could enjoy a meal while also sampling Cooper’s Hawk’s own wines. This allowed Cooper’s Hawk to produce, sell, and promote its own wine brands all under one roof. The founders used timber, brick, and copper design elements to make the tasting room feel warm and inviting.
Cooper’s Hawk’s Growth
Cooper’s Hawk struck a chord with consumers and started experiencing rapid growth. More locations opened in Illinois, Indiana, Wisconsin, Michigan, Ohio, and Florida. The company also expanded its wine production, developing an array of premium wines including Cabernet, Chardonnay, Malbec, Pinot Gris, and more.
Some key stats about Cooper’s Hawk’s growth:
- 2005 – First tasting room opened in Orland Park, IL
- 2011 – 10 locations
- 2015 – 25 locations
- 2019 – 46 locations across 9 states
- 2020 – Produced over 1.5 million cases of wine
As the company grew, it attracted significant investment from private equity firms. This provided the capital to fuel Cooper’s Hawk’s continued national expansion.
Current Ownership and Management
Today, Cooper’s Hawk is majority owned by two private equity firms:
- Ares Management: A leading global alternative investment manager based in Los Angeles. They first invested in Cooper’s Hawk in 2017.
- AP VIII Queso Holdings: An affiliate of Investcorp, a Bahrain-based asset management company. They invested in a stake of Cooper’s Hawk in 2021.
Together these two firms hold a majority ownership stake in Cooper’s Hawk Winery & Restaurants. The founders Tim McEnery and Dan Hoffman have retained minority ownership stakes as well.
Here is a breakdown of Cooper’s Hawk’s current executive management team:
| Name | Title |
|---|---|
| Tim McEnery | Cooper’s Hawk Founder & CEO |
| Dan Hoffman | Cooper’s Hawk Founder & President of Winemaking |
| Rob Peckenpaugh | Chief Culinary Officer |
| Tom Kooyenga | Chief Operating Officer |
| Matt McMillin | Chief Financial Officer |
So in summary, Cooper’s Hawk is currently majority owned by private equity firms Ares Management and Investcorp. The original founders Tim McEnery and Dan Hoffman still own minority stakes and remain actively involved in managing the company.
Cooper’s Hawk’s Business Model
A key part of Cooper’s Hawk’s success has been its integrated business model:
- Full service casual dining restaurants
- Immersive wine tasting rooms
- Wine production facilities
- Retail wine stores
By controlling the full process from wine production to retail, Cooper’s Hawk can promote its own wines in-house. It also captures more profit at each step. This has fueled rapid revenue growth, allowing Cooper’s Hawk to expand to new markets.
Revenue Sources
Here are Cooper’s Hawk’s main revenue sources:
- Wine: Wine makes up 60-70% of revenue. This includes tasting room wine sales, retail wine stores, and wholesale distribution to over 4,000 external accounts.
- Dining: Casual dining makes up 30-40% of revenue.
- Membership: The “Wine Club” membership program accounts for over $60 million in annual revenue.
Rapid Growth
Cooper’s Hawk has achieved staggering growth over the last decade thanks to this integrated model:
- Grew from 10 to 50 locations from 2011 to 2022
- Achieved a +26% CAGR in revenue from 2010 to 2019
- Wine production grew over 400% from 2010 to 2020
The company has succeeded in scaling up rapidly while staying true to its founding mission of providing casual gourmet dining centered around an immersive winery experience. This unique positioning has clearly resonated with consumers.
The Future of Cooper’s Hawk
Cooper’s Hawk has ambitious plans to continue expanding in coming years. Management has stated they see potential for over 300 locations nationally.
Key growth strategies include:
- Opening 10+ new locations annually
- Increasing brand awareness and loyalty through the Wine Club program
- Expanding wine distribution to new external retail accounts
- Increasing profitability of existing locations through economies of scale
With the financial backing of major private equity investors, Cooper’s Hawk is well-positioned to achieve this targeted growth. They aim to maintain over 20% annual revenue growth in order to reach their long-term expansion goals.
Cooper’s Hawk also continues to innovate, such as through new virtual wine tasting options debuted during the Covid-19 pandemic. This ability to rapidly adapt to market changes will serve the company well moving forward.
Conclusion
Cooper’s Hawk Winery & Restaurants started as a single tasting room in Illinois in 2005. It has since grown to a 50+ location wine company powerhouse, producing over 65 varietals of wine annually. While private equity firms Ares Management and Investcorp now own a controlling stake in the company, Cooper’s Hawk continues to be led by its passionate founders Tim McEnery and Dan Hoffman.
The company’s integrated business model of wine production, dining, retail, and membership has fueled incredible growth. With further expansion plans ahead, Cooper’s Hawk aims to build an iconic lifestyle wine brand that provides memorable experiences for wine lovers across America.
