The Duckhorn Portfolio Closes Acquisition of Sonoma-Cutrer Vineyards
The Duckhorn Portfolio, Inc. (NAPA)
Company Research
Source: Business Wire
Adds Two New Members to the Board of Directors ST. HELENA, Calif.--(BUSINESS WIRE)--The Duckhorn Portfolio, Inc. (NYSE: NAPA) (the “Company”) announced the completion, effective April 30, 2024, of its acquisition of Sonoma-Cutrer Vineyards (“Sonoma-Cutrer”), one of the largest and fastest-growing luxury Chardonnay brands in the U.S., from spirits and wine company, Brown-Forman Corporation (NYSE: BF.B) (“Brown-Forman”). The Duckhorn Portfolio has named two Brown-Forman executives to its Board of Directors, Marshall Farrer, Chief Strategic Growth Officer, and Tim Nall, Chief Global Supply Chain and Technology Officer.The Company finalized the acquisition for the previously announced consideration of approximately $50 million of cash and the issuance of 31,531,532 shares of Company common stock to Brown-Forman.“We are thrilled to add the acclaimed Sonoma-Cutrer winery brand to our portfolio of luxury winery brands and welcome their talented team,” said Deirdre Mahlan, President, Chief
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News
- Wine group The Duckhorn Portfolio finds positivity on Wall Street amid share slide [Yahoo! Finance]Yahoo! Finance
- The Duckhorn Portfolio, Inc. (NYSE: NAPA) had its price target lowered by analysts at Wedbush from $11.00 to $10.00. They now have an "outperform" rating on the stock.MarketBeat
- The Duckhorn Portfolio Appoints Interim CEO and Industry Veteran Deirdre Mahlan as President and Chief Executive Officer [Yahoo! Finance]Yahoo! Finance
- The Duckhorn Portfolio Appoints Interim CEO and Industry Veteran Deirdre Mahlan as President and Chief Executive OfficerBusiness Wire
- The Duckhorn Portfolio, Inc. (NYSE: NAPA) was downgraded by analysts at Barclays PLC from an "overweight" rating to an "equal weight" rating. They now have a $8.00 price target on the stock, down previously from $11.00.MarketBeat
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