US: Vintage Wine Estates scoops up Cosentino Signature Wines
Napa Valley's Cosentino Signature Wines bought by Vintage Wine Estates
Vintage Wine Estates has scooped up the assets of fellow wine group Cosentino Signature Wines, after the producer fell into bankruptcy late last year.
Santa Rosa-based Vintage Wine Estates has acquired Cosentino's assets for an undisclosed fee, it announced this week. Cosentino, based in Napa Valley, was founded in 1980 but filed for banruptcy in November last year.
The group was unable to secure funds to meet debt repayments and it officially closed for business on 30 December.
“We look forward to upholding the Cosentino Winery tradition of producing exceptional, high quality wines and furthering our mission of cultivating small, hand-crafted artisanal wineries in Napa and Sonoma,” said the president of Vintage Wine Estates, Pat Roney. Both companies have specialised in high-end, small-batch wines.
Cosentino's founder, Mitch Cosentino, said that he would be staying on in the new-look business, although his exact role was not disclosed. "Their impressive portfolio of ultra premium wineries, including Girard Napa Valley, Windsor Sonoma and Sonoma Coast Vineyards, ensures a continuing tradition of quality for Cosentino Winery," he said.
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