5 February 2021
Vintage Wine Estates, which has built a portfolio of over 50 wine and spirits brands from the California Wine County and the Pacific Northwest to become one of the largest U.S. wine producers, has inked an agreement with a special-purpose acquisition company to become publicly traded.
The deal between London-based Bespoke Capital Acquisition Corp. and the Santa Rosa-based porfolio that includes brands such as Viansa Sonoma and Napa Valley’s Girard is valued at $690 million plus $50 million in future potential consideration, according to the announcement Thursday.
And just before the merger agreement was signed, Wasatch Global Investors acquired a $28 million stake in Vintage.
“At some point, it takes a lot of capital to be in the wine business, and we needed more capital to continue our growth,” Vintage CEO Pat Roney told the Business Journal.
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