USA: Reunion Industries Announces Completion of Sale of California Wine Grape Agricultural Operations
Reunion Industries, Inc. (Amex-RUN) announced today that, on October 27, it completed the previously announced sale of substantially all of its wine grape agricultural operations and real estate in Napa County, California to The Vinyard at Juliana LLC, a Seattle, Washington based company. Reunion used the net proceeds for general corporate purposes, including repayment of approximately $16 million of debt."The completion of this sale is another step in the Company's continuing commitment to debt reduction. As a result of this sale, the previous sale of Data Packaging Limited in August and scheduled monthly repayments from operating cash flows, Reunion has reduced its debt by approximately $30 million since the merger in March. We are dedicated to strengthening our balance sheet and creating shareholder value" said Kimball Bradley, Reunion's President and Chief Operating Officer.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - How to Target Cognac's Mok Generation?
- Is Marketing Twisting the Meanings of Words?
- Analysis - The Value of Prosecco
- Sustainability - Walking the Walk on Water
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- SPI Group US, Canada sales chief departs
- Belvedere proposes name change
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Africa: The Final Frontier for Beer