Howard Rossbach Sells Firesteed
Vintage Wine Estates Acquires Brand, Pacific Rim & Company Purchases Winery and Flynn Vineyard Rossbach retains ownership of Citation Wines and Erratic Oaks Vineyard
RICKREALL, Ore., June 8, 2017 /PRNewswire/ -- Firesteed founder Howard Rossbach has reached an agreement to sell the Oregon-based brand and winery in a multi-part deal with Vintage Wine Estates and Pacific Rim & Company. In a related transaction, Mickey and Jeanne Flynn have agreed to sell the historic 30 acre Flynn Vineyard adjacent to the Firesteed Winery to Pacific Rim & Company. Rossbach will retain the Citation brand and Erratic Oaks Vineyard.
"We feel fortunate to have found such a good steward to carry the Firesteed line of wines into the future," commented Rossbach. "After more than 40 years in the wine business, I'll now be able to refocus on my passion for our ultra premium offerings under the Citation label, while continuing to manage our exquisite Erratic Oaks vineyard, producing some of the finest wine grapes in region."
The transaction gives Vintage Wine Estates its first fine wine brand from Oregon state, as well as several key long-term grape sources in particular grapes from the 90-acre Firesteed Estate Vineyard in the Willamette Valley and 202-acre Erratic Oaks Vineyard in nearby Dallas, Oregon.
Through a separate purchase by Pacific Rim & Company of the physical winery and 30 acres of surrounding vineyards, its Rainstorm brand has a new home in the Willamette Valley. Production of Rainstorm Pinot Noir, Pinot Gris and Silver Linings Rosé at the Rickreall, OR location will start with the 2017 harvest.
Exvere, Inc. served as the exclusive financial advisor to Firesteed and to Flynn Vineyard.
About Citation and Howard Rossbach
Howard founded Firesteed Cellars in 1992, originally coining the term "virtual winery" to describe the brand's commitment to consistent quality without the overhead of a vineyard or production facility. In the ensuing years, the winery (2002) and vineyard land (2006) were purchased and the ultra-premium line of Citation wines was added. Rossbach has been active in leadership of the Oregon Wine industry, having served as Vice President of the Oregon Wine Growers Association and President of Oregon Pinot Camp. He is currently President of the Northwest Wine Coalition.
About Vintage Wine Estates
Vintage Wine Estates is a privately held wine company owned by a group of vintner families with deep roots in the wine business. The families own a collection of winery estates and brands including Clos Pegase Winery, Cosentino Winery, Girard Winery, B.R. Cohn Winery, Swanson Vineyards, Viansa Sonoma, Windsor Vineyards, Cartlidge & Browne, Sonoma Coast Vineyards, Middle Sister, Tall Dark Stranger, Pro-mis-Q-ous, Monogamy, Girl & Dragon, Purple Cowboy and a number of exclusive wine brands. Vintage Wine Estates is a majority partner in Splinter Group Spirits, producing craft Kentucky whiskey (Straight Edge) and American whiskey (Slaughter House) and markets Clayhouse and Buried Cane wines. An industry leader across all sales channels and dedicated to providing wine consumers with a range of wines from $10 to $100 dollars, Vintage Wine Estates produces outstanding wines from Napa, Sonoma, Mendocino and other premium California winegrowing regions and respects the way people buy their wine—at wineries, at retail, on the telephone, on television, on the Internet and by mail. www.vintagewineestates.com
About Pacific Rim & Company
Pacific Rim and Company, wholly owned by the Mariani family (proprietors of leading US wine importer Banfi Vintners) since 2010, was founded in 1992 as a Riesling specialist and has since grown into a leading innovator and producer of Northwest wines, including Pacific Rim, Rainstorm, Eufloria, Unparalleled, Sweet Bliss, and Silver Totem. General Manager and Chief Winemaker Nicolas Quille is also Vice President of the International Riesling Foundation, a board member of Winewise (the Washington winery sustainability group), and a member of the Washington State export committee. Contact Joe Janish at [email protected] or 516-686-2569 for more information.
About Exvere
Exvere advises Pacific Northwest businesses on capital transactions including mergers, acquisitions, and recapitalizations. Exvere offers concentrated experience and expertise in the Pacific Northwest wine and adult beverage industry. For more information about Exvere please visit www.exvere.com.
For more information contact:
Howard M. Rossbach [email protected]
(206) 233-0683
SOURCE Vintage Wine Estates
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