Kunde was among several wineries auctioned to a Dallas-based wine company.
Heard of the ubiquitous “blue-light special” in sales departments? Vintage Wine Estates is in the midst of a rosé-light special—as a Delaware bankruptcy court this month gave the go-ahead for the Santa Rosa-based wine portfolio’s auctioning of millions of dollars in assets as part of its corporate restructuring. The court approved sales from a Sept. 17 auction, which saw Vintage move about $140 million in assets.
Vintage Wine Estates—the parent company of such brands as BR Cohn, Girard and Kunde— announced in July its filing for Chapter 11 bankruptcy to restructure to address its debt obligations and begin selling off its assets.
Vintage Wine Estates framed its outstanding debt as around $400 million, with assets of about $425 million. The company plans to sell about two dozen wineries, among other brands and assets.
Among the bids for local and regional brands approved by the court were Clos Pegase and Girard wineries in Napa County, and BR Cohn, Kunde and Viansa wineries in Sonoma Valley, which went for $85 million to Dallas-based Adair Winery. Sonoma Coast Vineyards, Cosentino, Swanson, Bar Dog and Cherry Pie went to Foley Family Wines for $15 million. Additionally, California Cider Co., maker of Ace Cider in Sebastopol, went to Cider Leasing LLC for $7.63 million.
