Ropes & Gray Represented Duckhorn Portfolio in Landmark Luxury Wine Deal
Ropes & Gray Represented Duckhorn Portfolio in Landmark Luxury Wine Deal
Leading law firm Ropes & Gray LLP has successfully guided Duckhorn Portfolio Inc. in securing a definitive agreement to acquire Sonoma-Cutrer Vineyards, a renowned producer of premium Chardonnay wines, from Brown-Forman Corporation for a substantial consideration of $400 million, consisting of both stock and cash components.
As per the terms of the agreement, Brown-Forman will receive 31.5 million shares of Duckhorn Portfolio's common stock, valued at approximately $350 million, along with approximately $50 million in cash, subject to certain adjustments.
With this acquisition, Duckhorn Portfolio will further solidify its position as a leading luxury wine producer. The company currently operates 10 wineries, nine winemaking facilities, seven tasting rooms, and over 1,100 acres of vineyards spread across Napa Valley, Sonoma County, Anderson Valley, California's North and Central coasts, Oregon, and Washington state. Sonoma-Cutrer, founded in 1981, has established itself as a renowned producer of premium Chardonnay wines from its vineyards in the esteemed Russian River Valley region of Sonoma County, California.
The Ropes & Gray team was led by M&A partner Elizabeth Gallucci and counsel Tristan VanDeventer and included a team of experienced legal professionals comprising M&A partner Chris Comeau, executive compensation & employee benefits partner Kyle Higley, litigation & enforcement partner Jonathan Klarfeld, tax partner Pam Glazier, real estate partner David Kaye, finance partner Nichole Lopez-Tackett, employment partner Megan Bisk, real estate partner Peter Alpert, and data, privacy & cybersecurity counsel Kevin Angle.
