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8 mai, 2011

Etats-Unis : Vincraft Group et Boisset Family Estates rachètent au groupe Ascentia Wine Estates les marques Garry Farrell et Buena Vista Carneros

Classé dans : Fusions-Acquisitions — lullyconseil @ 14:14

Ascentia Wine Estates on Thursday sold its Buena Vista Carneros and Gary Farrell brands as part of its continued efforts to reposition itself in the hard-hit wine market.

“This positions us great,” said Mike Kenton, who was hired as chief executive of the Healdsburg company in January. “It was all done for the same reason, for stability and focus. And now we have both.”

The company, which still owns its flagship Geyser Peak Winery in Healdsburg and Washington-based Columbia Winery, has been working with its lenders and partners for several months to get out from underneath heavy debt that dates back to its formation in 2008, when it essentially borrowed $209 million to purchase eight brands and five wineries from Constellation Brands.

Boissett Family Estates, based in St. Helena, acquired the 35,000-case Buena Vista Carneros brand, but not a winery or vineyards.

Gary Farrell Winery, a Healdsburg producer that made its reputation bottling pinot noir, was sold to The Vincraft Group.

Financial terms were not disclosed.

The Vincraft Group, a Sonoma-based company founded in 2008, purchased the Gary Farrell inventory and the 21,000-square-foot winery located on 23 acres off Westside Road.

“I’m excited with it,” said Pete Scott, Vincraft’s chief executive.

Gary Farrell Winery is the second brand purchased by The Vincraft Group. It acquired a majority share of coveted pinot noir producer Kosta Browne in 2009 for $40 million. The company is trying to build a portfolio of luxury wine brands that have limited production and can be sold directly to consumers and restaurants, Scott said.

Kosta Browne produced about 14,000 cases of pinot noir and chardonnay last year, and Gary Farrell produced about 25,000 cases of pinot noir, chardonnay and a little sauvignon blanc, syrah and zinfandel.

The Vincraft Group purchased the winery facility from Entertainment Properties, a publicly traded real estate investment firm from Kansas City that acquired the assets from Constellation as part of the 2008 deal with Ascentia, which had agreed to lease the properties back.

source : http://www.pressdemocrat.com/article/20110428/BUSINESS/110429357/1350?p=2&tc=pg

The Vincraft Group Announces Acquisition Of Gary Farrell Winery:

Famed Russian River Pinot Noir Producer Gains Collaborative Partner Committed to Enhancing Quality

April 28, 2011 — Sonoma, CA — The Vincraft Group, a Sonoma-based wine company, announced today that it has purchased pioneering Russian River Valley Pinot Noir producer Gary Farrell Winery from Ascentia Wine Estates. With this acquisition, Vincraft expands its small portfolio of fine wine companies, including the critically acclaimed Kosta Browne Winery.

Located on Westside Road in the heart of the Russian River Valley, Gary Farrell Winery crafts Pinot Noir and Chardonnay from some of Sonoma County’s finest vineyards. Vincraft is a local group, dedicated to preserving the winery’s history, honoring its legacy in the region, and renewing its focus on vineyard expression through the highest quality winemaking.

“The Vincraft Group is committed to providing our brands with the resources and support they need to ensure future success,” said Pete Scott, CEO of The Vincraft Group. “We welcome the opportunity to include this great brand in our portfolio. Gary Farrell Winery is a top-notch producer with the consummate Russian River heritage. We can’t wait to reconnect with customers and the industry to elevate awareness of ll that Gary Farrell Winery has to offer.”

“Vincraft seeks opportunities where we and the management team have a shared vision of the winery’s unique culture and long-term potential,” he continued. “Vincraft expects and encourages each of our portfolio wineries to operate independently, thus preserving the qualities and characteristics that differentiate luxury brands.”

“We are incredibly passionate about what we do,” said Susan Reed, Winemaker, “and The Vincraft Group is the perfect partner to ensure fine wine quality and customer focus going forward.”

“Having Vincraft as our new owner gives Gary Farrell Winery a partnership with the resources to enhance our standing as a premier wine producer,” said Gary Archer, Operations Manager.
The winery was founded by Gary Farrell with the 1982 vintage of Rochioli-Allen Pinot Noir. From the beginning, the winery helped to brand the Russian River Valley and Sonoma County as one of the world’s premier Pinot Noir growing regions. The tradition will now continue with fine Pinot Noirs and Chardonnays sourced from some of the area’s leading vineyards.
(more)

About Gary Farrell Winery
For almost thirty years, Gary Farrell Winery has been both a pioneer and leader in Russian River Valley Pinot Noir and Chardonnay. The winery is best known for crafting small-lot wines that capture the impeccable balance and elegance of some of the finest vineyards in the region. Gary Farrell first released fifty cases of the ‘82 Rochioli-Allen Pinot Noir in 1985 to widespread critical acclaim. With a renewed focus and commitment to its roots, Gary Farrell Winery produces wines expressing the flavors of Sonoma County’s unique sunlight, soil and exceptional grapes. To learn more about the winery, please visit: www.garyfarrellwines.com.

About The Vincraft Group
The Vincraft Group was formed in 2008 by Bill Price, Walt Klenz and Pete Scott, wine industry veterans with over 70 combined years of experience as investors in and operators of highly regarded wineries. Their industry expertise ranges from large, broadly distributed producers such as Beringer and Kendall-Jackson to highly-allocated, luxury-tier wineries including Kosta Browne and Kistler. Vincraft is creating a portfolio of distinctive, limited-production wineries that are well-established and already enjoy a reputation for consistently well-crafted wines. In fall 2009, Vincraft made its first investment with Kosta Browne Winery. Today, the group announces the addition of Gary Farrell Winery to the portfolio. For more information, please visit
www.vincraftgroup.com.

source : http://www.winebusiness.com/news/?go=getArticle&dataid=87041

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