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From: lewis.perdue@wineindustryinsight.com

Subject: Cosentino Winery Re-Opening Planned For End of January - JANUARY 6, 2010 - WINE INDUSTRY INSIGHT

Date: 2011-01-05 22:54:14

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Cosentino Winery Re-Opening Planned For End of January


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WINE INDUSTRY INSIGHT

January 6, 2011

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Cosentino Winery Re-Opening Planned For End of January

Napa Valley's Cosentino Winery should be back in business and the tasting room re-opened to the public by the end of January, according to multiple sources involved with the operation.

 As previously reported, Santa Rosa, CA-based Vintage Wine Estates (VWE) purchased the Yountville winery from Physicians Reciprocal Trust after PRI took it back in a foreclosure sale.

VWE owns Girard Winery, Sonoma Coast Vineyards, Windsor Sonoma Winery, Grove Street Winery, Fire Station Red, StoneFly Vineyards, Windsor Vineyards, and International Wine Accessories.

 Wine Industry Insight has pieced the following details together:
  • VWE paid in the neighborhood of $8 to $9 million for the winery, inventory and some equipment.
  • VWE did not acquire any of the Lodi and Pope Valley vineyards and wine making facilities owned by the VinReit unit of Entertainment Properties Trust.
  • Mitch Cosentino will serve as a consultant.
  • Wine production will probably be moved to another facility owned by VWE.
  • Growers, whose liens amount to approximately $1 million, will be paid through the sale of inventory.
  • Much of the wine making equipment will be returned to the lienholders
  • VWE probably will hold a sale of library wines.
  • The Poet -- the winery's signature, top-end red -- will continue to be made.
  • Transferring state and federal licenses is the biggest delay in re-opening.
PREVIOUS WINE INDUSTRY INSIGHT COVERAGE OF COSENTINO WINERY
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Lewis Perdue
670 W. Napa St., Suite H, Sonoma, CA 95476
Phone: 707-326-4503, fax: 707-940-4146
Email: lewis.perdue@wineindustryinsight.com