US: Cosentino to list on London’s AIM
Napa Valley's Cosentino Signature Wineries plans to raise US$30m by listing on London's AIM market this month. The funds will fuel continued California expansion and more than halve Cosentino's US$23m debt. The company is also seeking "small, ultra-premium" wineries in California, Oregon, Australia, New Zealand and Italy, chairman Larry Soldinger told just-drinks.
New CEO Neville Calvert will be based in London, and Cosentino will open an Adelaide office.
Primary operations will remain in California, where production is seen reaching 45,000 cases in 2005 while revenues rise 30% over last year's US$7m. The winery is now owned by Edie Soldinger and founder Mitch Cosentino.
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