US: California’s Crimson Wine Group Doubles In Size With Seghesio Acquisition
US: California’s Crimson Wine Group Doubles In Size With Seghesio Acquisition
Dec 7, 2011 6
(Shankennewsdaily) - Napa-based Crimson Wine Group was founded in 2007 by New York investment firm Leucadia National Corp. At the time, the company’s wine holdings included Napa’s Pine Ridge Vineyards and Archery Summit in Willamette Valley. In 2008, Crimson expanded with the purchase of Edna Valley’s Chamisal Vineyards (formerly Domaine Alfred). This past June, Crimson took another leap with the acquisition of Sonoma-based Seghesio Vineyards, a deal which doubled its scale to roughly 250,000 cases and $50 million in annual revenue. Erle Martin, who previously has served as president of Francis Ford Coppola’s wine business and head of Young’s Market Co.’s California fine wine unit, has led Crimson as CEO since 2007. Shanken News Daily recently caught up with Martin to discuss Crimson’s ongoing expansion.
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