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Cosentino Winery Sold
Filed under: Wine
In November we learned that Cosentino Winery, a 70,000-case winery on Highway 29 near Yountville, California had closed its doors. The winery was up for sale and the Sonoma Register reports that is now has new owners. Santa Rosa-based Vintage Wine Estates bought the property. Records show that Vintage Wine Estates now holds a $6.9 million loan from Physicians Reciprocal Insurers, Cosentino's senior secured creditor, which took ownership of the property last fall. Cosentino's loan with PRI was $12.5 million. The loan may only be part of the full truncation; the purchase price has not been disclosed. The winery had gone up for a trustee sale in December but no one met the minimum bid of $10.55 million. The company will not take on Cosentino's debts. Vintage Wine Estates also owns Girard Winery, Sonoma Coast Vineyards, Windsor Sonoma Winery and International Wine Accessories. Mitch Cosentino, who founded the winery but sold it some years back has a new wine project with golfer Fred Couples.UPDATE: North Bay Business Journal reports that Vintage Wine Estates brought back founder Mitch Cosentino to help "stabilize" the brand.
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