$5 Billion Food Specialist Private Equity Firm Butterfly to Buy California Luxury Wine Duckhorn Portfolio for $1.95 Billion in All-Cash-Deal Representing 106% Premium to Closing Price on 4th October 2024, Duckhorn Portfolio was Founded in 1976 by Dan and Margaret Duckhorn
12th October 2024 | Hong Kong
United States food specialist private equity firm Butterfly ($5 billion portfolio) has announced to buy California luxury wine Duckhorn Portfolio for $1.95 billion in all-cash-deal, representing 106% premium to closing price on 4th October 2024. Duckhorn Portfolio was founded in 1976 by Dan and Margaret Duckhorn. Duckhorn (7/10/24): “The Duckhorn Portfolio (NYSE: NAPA) (“Duckhorn” or the “Company”), North America’s premier luxury wine company, and Butterfly Equity (“Butterfly”), a Los Angeles-based private equity firm specializing in the food and beverage sector, today announced that they have entered into a definitive agreement (the “Agreement”) pursuant to which Duckhorn will be acquired by private equity funds managed by Butterfly in an all-cash transaction that values the Company at approximately $1.95 billion. Under the terms of the Agreement, Duckhorn stockholders will receive $11.10 per share in cash, representing a premium of approximately 65.3% to the volume weighted average share price of Duckhorn’s common stock over the 90-day trading period ending on October 4, 2024. Following the completion of the transaction, Duckhorn will become a privately held company. Duckhorn was established in 1976 and is a leading pure-play luxury wine producer in the United States with a curated portfolio of premium brands, including Duckhorn Vineyards, Decoy, Sonoma-Cutrer and Kosta Browne. Duckhorn wines are available to luxury consumers on five continents and in over 50 countries. Following the completion of the transaction, the Company will continue to be headquartered in St. Helena, California and will operate eleven winery brands under The Duckhorn Portfolio name.”
“ $5 Billion Food Specialist Private Equity Firm Butterfly to Buy California Luxury Wine Duckhorn Portfolio for $1.95 Billion in All-Cash-Deal Representing 106% Premium to Closing Price on 4th October 2024, Duckhorn Portfolio was Founded in 1976 by Dan and Margaret Duckhorn “
The Duckhorn Portfolio – The Duckhorn Portfolio is North America’s premier luxury wine company, with eleven wineries, ten state-of-the-art winemaking facilities, eight tasting rooms and over 2,200 coveted acres of vineyards spanning 38 Estate properties. Established in 1976, when vintners Dan and Margaret Duckhorn founded Napa Valley’s Duckhorn Vineyards, today, our portfolio features some of North America’s most revered wineries, including Duckhorn Vineyards, Decoy, Sonoma-Cutrer, Kosta Browne, Goldeneye, Paraduxx, Calera, Migration, Postmark, Canvasback and Greenwing. Sourcing grapes from our own Estate vineyards and fine growers in Napa Valley, Sonoma County, Anderson Valley, California’s North and Central coasts, Oregon and Washington State, we offer a curated and comprehensive portfolio of acclaimed luxury wines with price points ranging from $20 to $230 across more than 15 varietals. Our wines are available throughout the United States, on five continents, and in more than 50 countries around the world.
Butterfly – Butterfly is a Los Angeles, California-based private equity firm that invests exclusively in the $26 trillion food sector. Butterfly is a leading “seed to fork” food ecosystem investor in North America and seeks to generate consistent investment returns through deep sector expertise, a data-driven investment process, and an operations-driven approach to value creation. Since its founding in 2016, the firm has invested in a diverse portfolio of category-leading businesses representing approximately $5 billion in enterprise value including Milk Specialties Global, Chosen Foods, MaryRuth Organics, Pete and Gerry’s, Orgain, Generous Brands, Bolthouse Fresh Foods, QDOBA, and Pacifico Aquaculture. In September 2024, Butterfly also announced the signing of definitive documentation to acquire Rise Baking Company alongside Platinum Equity, which is expected to close in Q4 2024.
$5 Billion Food Specialist Private Equity Firm Butterfly to Buy California Luxury Wine Duckhorn Portfolio for $1.95 Billion in All-Cash-Deal Representing 106% Premium to Closing Price on 4th October 2024, Duckhorn Portfolio was Founded in 1976 by Dan and Margaret Duckhorn
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