Shanken News Daily
Vintage Wine Estates To Offload Clos Pegase In Napa, Viansa In Sonoma
Troubled California wine group Vintage Wine Estates is looking to offload certain assets and pare back its portfolio to focus on a smaller core of brands as it looks to stage a turnaround. The company has hired Oppenheimer & Co. to accelerate the process in monetizing certain assets, such as the Clos Pegase winery and tasting room in Napa and its Viansa property in Sonoma, while reducing its workforce by 15%.
Certain “premium price-point and below wine brands as well as certain production services and some DTC platforms” will also be sold off. Looking ahead, Vintage intends to focus on brands including Layer Cake, Bar Dog, Cherry Pie, and Ace Cider, along with labels like Girard, Kunde, BR Cohn, Laetitia, and Firesteed, among others.—Daniel Marsteller