Canandaigua buys Napa Valley's Franciscan Estates in blockbuster deal

Article Abstract:

Canandaigua Brands paid $240 million for the Franciscan Estates winery from the Eckes family of Germany and Chmn Agustin Huneeus. In 1998, Franciscan Estates posted $50 million in sales of its wines, which include Mount Veeder Winery, Estancia Estates and Franciscan Oakville Estate. Huneeus will remain chairman of the company. Canandaigua hopes to gain greater market share in California's premium wine market.

United States, Asset sales & divestitures, Acquisitions & mergers, Wineries, Wine, Wine industry, Canandaigua Brands Inc., CDB, Franciscan Estates

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Bank forecloses on Hanns Kornell; Napa vintner loses winery

Article Abstract:

Hanns Kornell Champagne Cellars is now owned by Napa Valley Bank, which foreclosed on the makers of sparkling wines. Kornell has had financial difficulties and filed for Chapter 11 last year. The Kornells hope to be able to retain the family home.

State commercial banks, Cases, Bankruptcy, Hanns Kornell Champagne Cellars, Napa Valley Bank

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Brown-Forman buys Fetzer Vineyards

Article Abstract:

The Mendocino County, CA, winery was purchased for an estimated $75-100 million by a Louisville, KY, firm. Fetzer manufactured approximately two million cases of wine in 1992.

Distilled and blended liquors, Wine and distilled beverages, Brown-Forman Corp., Fetzer Vineyards

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