Not surprised this happened (other than Duckhorn specifically). (Even speculated this might be coming: https://www.wineberserkers.com/forum/viewtopic.php?p=2511261#p2511261 )
Note that Duckhorn is itself owned by a private equity company, so this follows the somewhat typical pattern of one PE company selling to another in order to cash out its investment and return funds to investors.
And JW Childs press release: http://jwchilds.com/media/articles/3138
When can we start speculating on how much $$?
I have been so turned off by KB as the quality has gone down and the prices up, Duckhorn certainly won’t make things worse.
Not surprising to me, interesting to see if they keep the vineyards with KB or spread them around as well
No surprise - and my guess is that the private equity firm is not done. Their director of winemaking mentioned that they will be looking for more vineyards along the ‘Central Coast’ to complement their Calera purchase . . .
Wondering what the $$$ were and how much the PE firm that currently owns KB made on the deal. Also explains the recent CIRQ stuff.
I heard rumors going back about two months ago that something was going down, and it was only a matter of time. Glad to see Sideways is still popular
No interest in KB, but this thread lead me to check out WineBid. Stunning asking prices for some of their pinots.
How many times has KB been purchased in the past 14 years? I think this at least the third acquisition.
Yes, three times starting in 2009.
Great startup story, seemingly good people, good wines, happy that they were able to successfully cash out on their hard work and success…
after that no longer much interested…
While true, weren’t the first two owners simply financial backers? First whatever group Kosta and Browne put together for money and then Vincraft? JW Childs seemed to be the first playing a more active management role rather than just providing money.
The latest owners brought in a French consultant who changed the winemaking a lot. I guess the new owners like the changes.
They routinely go for a discount on K&L auctions.
“Duckhorn certainly won’t make things worse.”
Oh ye of great faith!