Bacchus Capital Management Provides Growth Capital for Andretti Winery
Wine Industry Investment Firm Announces Deal with Iconic Winery Owner
SAN FRANCISCO, June 22, 2011 /PRNewswire/ -- Bacchus Capital Management, LLC, a San Francisco-based investment firm focused on providing strategic capital and making private equity wine industry investments, has provided growth and refinancing capital to Andretti Winery, a well-known Napa Valley wine producer owned by one of the world's greatest race car drivers, Mario Andretti.
"Andretti is at a critical point in its history," stated Mr. Andretti, Co-founder of the winery. "We have spent nearly 20 years developing this magnificent property in the heart of one of the world's finest wine regions and producing outstanding varietals. My name is on every bottle and I am committed to producing the best quality wines across a range of prices. Working with Bacchus Capital will enable us to build on the brand's recognition and acceptance as well as provide us with the working capital we need to expand our inventory, our production, our infrastructure and our distribution so that we can continue our growth and momentum."
"The financing for Andretti Winery reflects the opportunity for Bacchus Capital Management in the market today," stated Sam Bronfman II, Co-founder and Managing Partner of Bacchus. "There will always be a demand for super- premium brands offering unique products across the price spectrum. Andretti has a fantastic location and a great range of wines and we look forward to being part of the Andretti team's success."
"On today's financial landscape, the wine industry is particularly challenged given the capital-intensive requirements for growth. Wineries are under extreme pressure, and are seeking creative solutions and new partners. Bacchus has established an innovative model in the industry," commented Peter Kaufman, Co-founder and Managing Partner of Bacchus Capital Management. "Our flexible financing and operational expertise are well matched to the needs and opportunity at Andretti."
"We are eager to leverage the strategic capital Bacchus is providing," commented Joe Antonini, Co-founder and CEO of Andretti Winery. "As a winery with over 50 acres of vineyards in one of Napa's most acclaimed locations, we look forward to leveraging our many assets and to building our business and our brand over the long-term."
About Andretti Winery
Located in the heart of the legendary Napa Valley, Andretti Winery exudes Old World Charm. Modeled after a rambling Italian village, the winery conjures up the boyhood home of its namesake, Mario Andretti, the finest race car driver of all time.
Founded in 1996 by Mario Andretti and his longtime friend, Joe Antonini, former Chairman & CEO of Kmart Corporation, Andretti Winery is dedicated to celebrating the Italian lifestyle.
Andretti wines are crafted from estate vineyard fruit and select vineyards from California's finest appellations. Specifically chosen for their excellence and distinction, each wine released meets the highest standards of the Winery's vision and mission: to consistently offer unique character and exceptional quality.
For more information, visit www.andrettiwinery.com
About Bacchus Capital Management
Bacchus Capital Management is an investment and advisory firm co-founded in 2007 by Sam Bronfman II, Peter S. Kaufman and Henry F. Owsley providing alternative financing and equity capital to United States wineries and wine businesses. Quinton Jay and Rob Rupe are the Managing Directors. Bronfman and Jay bring extensive wine industry experience through leadership positions at Seagram Chateau and Estates, Diageo, Artesa Vineyards and Winery, Etude, Quintessa and Bonny Doon Vineyard. Kaufman and Owsley are leading investment bankers specializing in credit analysis, valuation and restructuring.
For more information, visit www.bacchuswinefund.com
SOURCE Bacchus Capital Management, LLC
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