Les archives de LULLY CONSEIL

12 janvier, 2011

Etats-Unis : Vintage Wine Estates rachète les actifs de Consentino Winery

Classé dans : Fusions-Acquisitions — lullyconseil @ 11:44

Vintage Wine Estates has purchased many assets of the foreclosed Consentino Winery from its leading creditor, according to the Santa Rosa-based company. The sale is official as of Thursday, although some parts of the transaction occurred late last month.

That senior secured creditor, New York medical malpractice specialist Physicians Reciprocal Insurers, helped smooth the deal by providing Vintage with a $6.9 million loan to complete the deal, according to a story Wednesday in the Napa Valley Register.

The Consentino Winery, founded by Mitch Consentino in 1980, had fallen on rough times in recent years, but was a pioneer in introducing new varietals to the California market and creating new wine blends, Vintage said in a statement. Located just off Highway 29 in a prominent spot north of Yountville, next to local landmark Mustard’s Grill, Consentino boasts a winery and a popular tasting room.

Mark Feinberg, Vintage Wine Estates’ vice president of marketing, said the purchase price was between $8 million and $9 million, and included the Napa Valley winery, inventory and some equipment. He said VWE did not acquire Consentino’s Lodi and Pope Valley vineyards and winemaking facilities owned by VinREIT, a unit of Entertainment Properties Trust.

“Much of the winemaking equipment will be returned to lienholders,” Feinberg said in a Jan. 6 email to the San Francisco Business Times. “Grower liens will be paid through the sale of inventory.”

Physicians Reciprocal took ownership of the property last fall, after Consentino defaulted on its loan and went through foreclosure. A trustee sale in December failed to produce a minimum bid of $10.55 million to buy the property, leading to negotiations between the Roslyn, N.Y.-based creditor and VWE.

Vintage Wine Estates also owns Girard Winery, Sonoma Coast Vineyards, Winsor Sonoma Winery, Grove Street Winery, Windsor Vineyards and International Wine Accessories.

source : http://www.bizjournals.com/sanfrancisco/news/2011/01/06/vintage-wine-estates-buys-forceclosed.html

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