Live Oak Closes New Funding Deal
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NEWS FETCH EXTRA - July 22, 2015
CREATED BY WINE INDUSTRY INSIGHT & MADE POSSIBLE BY OUR SPONSORS
Editor & Publisher, Lewis Perdue. Assistant Editor, Becca Yeamans-Irwin
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Has Vintage Wine Estates Bought B.R. Cohn Winery? Or Maybe Not? Or Yet?
There may be less to the Vintage Wine Estates / B.R. Cohn acquisition than the news release from Cohn (below) represents.
While VWE partner Pat Roney offered "No comment" to Wine Industry Insight's request for comment, others close to the deal say it has not closed yet.
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"And I am not 100% sure it will close," said the source in a position to know the deal's current status. "It could have closed long ago, but Bruce has been a loose cannon. That unauthorized press release is just the latest example."
The authoritative source declined to comment further.
NEWS RELEASE FROM B.R. COHN
GLEN ELLEN, California (July 22, 2015) — B.R. Cohn Winery founder Bruce Cohn announced today that his popular namesake winery in the heart of Sonoma Valley in Glen Ellen has been sold to Vintage Wine Estates. No selling price was announced. Cohn and his wife Laurie will continue to live on the Trestle Glen property adjacent to the famed winery property Olive Hill Vineyards which he purchased in 1974.
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Bruce Cohn said, “This is a proud moment for our family, and our hard work has paid off.” Cohn added “The new owners have indicated that what got us here; attention to winemaking with consistency vintage to vintage, extraordinary customer service and a terrific visitor experience will remain the same.” Cohn added, “Like a number of folks in the Valley who have sold in recent years, it looks like we are at the end of the era of family owned wineries. It is becoming increasingly difficult to compete and grow family-run businesses in this new environment where bigger entities with more resources are taking over.”
“Vintage Wine Estates is a family-owned wine company and stewardship is a core value. As we build our collection of iconic wineries, vineyards and brands, our goal is to enhance what makes each one unique and offer resources and investment for the future. We are extremely pleased to add this landmark estate to our collection.” commented Pat Roney, president of Vintage Wine Estates.
Bruce Cohn intends to focus his energy on his 46-year management of the Grammy-award winning band, The Doobie Brothers who are more popular than ever. He will also produce his annual B.R. Cohn Charity Events Sonoma Music Festival near downtown Sonoma October 2-4 featuring Chicago, Ringo Starr and his All-Starr Band, the Doobie Brothers, Gregg Allman and others. Over the year Cohn has raised over six million dollars for various charities in its 29 years of existence.
B.R. Cohn Winery is located at 15000 Sonoma Highway 12 in Glen Ellen. The tasting room is open daily from 10 AM to 5 PM. Founded in 1984 by Bruce Cohn, the estate winery is known for its critically acclaimed, world-class, ultra-premium cabernet sauvignon, chardonnay, merlot, pinot noir and award winning gourmet estate olive oils, vinegars and gourmet specialty food products. The tasting room is a top destination for visitors and hosts numerous unique experiences throughout the year. Visit www.brcohn.com
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