Brown-Forman to sell Fetzer Vineyards to Viña Concha y Toro

Brown-Forman acquired Fetzer in 1992 from the Fetzer family. At the time of acquisition, the Fetzer company was selling nearly two million cases annually. Under Brown-Forman’s stewardship, Fetzer’s depletions grew to more than three million cases in calendar year 2010.

Founded in 1968, Fetzer has been recognised consistently as a leader in varietal wine development, sustainable agriculture, and as an environmental leader.

Included in this sale of Fetzer Vineyards are the Fetzer winery, bottling facility and vineyards, as well as the Fetzer brand and other Hopland, California-based wines, including Bonterra, Little Black Dress, Jekel, Five Rivers, Bel Arbor, Coldwater Creek and Sanctuary.

Also included in the sale is a facility in Paso Robles, California. The fiscal 2010 net sales contribution from these assets was $156m, including excise taxes. The key facilities are located in Hopland, California and employ approximately 240 people. The sale doesn’t include the super-premium Sonoma-Cutrer brand or the company’s long-term agency relationship with Korbel California Champagnes.

In December, Brown-Forman announced it was exploring strategic alternatives for the Hopland, California-based wine assets, including a possible sale. During this process, the company considered a range of alternatives but ultimately concluded that selling the business was in the best interest of Brown-Forman shareholders.

Source: Brown-Forman

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