PHOENIX–(BUSINESS WIRE)–Upward Projects (“Upward Projects” or the “Company”), the Phoenix-based hospitality group behind Postino WineCafé (“Postino”), Joyride Taco House, Windsor, Churn and Federal Pizza, announced that it has received a significant investment from Brentwood Associates (“Brentwood”), a leading growth-oriented private equity firm with extensive experience supporting innovative brands on the rise.
Upward Projects was founded by Lauren Bailey and Craig DeMarco, two high-energy entrepreneurs with a shared foundational vision – to connect communities, build authentic connections and, simply put, make people feel good. In opening the flagship concept, Postino, in 2001, the team set out to ditch pretension and redefine how people drink wine, creating a sophisticated, yet highly approachable wine bar with an “everyone is welcome” spirit that resonates with a wide-ranging consumer base. Over the past 16 years, the brand has earned a remarkable cult-like following that has resulted in seven locations in Phoenix, Arizona and Denver, Colorado. Each one of these locations were thoughtfully placed in historically relevant buildings integral to the neighborhoods that surround them. Following the transaction with Brentwood, the founders and current management team will continue to lead Upward Projects and will retain a substantial ownership stake in the Company. Bailey will remain in her role as Chief Executive Officer and DeMarco will serve as a Director and strategic advisor.
Read the full article “Upward Projects Announces Significant Investment from Brentwood Associates.”