The US's 360 Global Wine Company has acquired Sonoma County-based Viansa Winery and Italian Marketplace for a purchase price of US$31m. Financing was provided by Laurus Master Fund, Ltd. in the form of a US$34.5m convertible 3-year-term loan with an interest rate of 200 basis points above the prime rate.

Joel Shapiro, CEO of 360, said: "We are very pleased to welcome Viansa to our growing family of wineries. The acquisition positions 360 with major facilities in both Napa and Sonoma Counties in California and provides important synergies with our existing underutilized Napa facility. Viansa's proven marketing skills will greatly enhance the value of our geographically well-positioned Kirkland Ranch facility by generating increased tourism and direct retail sales. In addition, the optimization of wine production and the more efficient use of our G&A staff will provide additional benefits to 360."

Jon Sebastiani (34), who was named president of 360 Global Wine Company earlier this month, "will be responsible for the successful integration of the two businesses," said Shapiro.

Founded in 1989 by Sam and Vicki Sebastiani, Viansa Winery & Italian Marketplace is a winery in the Carneros grape-growing region at the entrance to the Sonoma Valley Wine Country. The winery has a 175-acre estate, producing over 55,000 cases of wine annually, with a selection that includes 12 different Italian varietals and 11 California varietals.