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Calif Wine Grape Acreage Continued to Decline in 2020: USDA

  California’s 2020 wine grape acreage dropped 11.1% over 2019 for a total of 620,000 acres. Of the total grape acreage, 580,000 were bearing while 40,000 were non-bearing. This according to the latest USDA 2020 Grape Acreage Report (PDF)   The leading wine-type varieties continued to be Chardonnay and Cabernet Sauvignon. Flame Seedless was the […]

NielsenIQ Shows On-Premise Spirits with no growth since end of pandemic. Beer off -2.2%; Wine down -8.1%

NielsenIQ Beverage Alcohol Update Week ending March 13, 2021 Unless otherwise noted, data and insights below are for the week ending March 13, 2021, compared to the same week last year in NielsenIQ off premise channels. Wine Sparkling led growth in off-premise wine. Table wine declined by 12.4%, while sparkling wine grew by 18.2%. French […]

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DEADLINE EXTENDED: Silicon Valley Bank DtC Winery Survey NOW ends March 26

NEWS RELEASE – MARCH 19, 2020 SVB’S Annual Direct to Consumer Wine Survey now ends March 26th Click here to take the survey The deadline for completing the SVB’s Annual Direct to Consumer Wine Survey has been extended to March 26th at 11:59 p.m. PST.   This final week will be your last chance to complete the […]

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Understanding SPACs

A SPAC — Special Purpose Acquisition Company (also known as a “blank check” company) — is a relatively simple concept…in theory: Form (and fund) a Sponsor entity to move the process forward. Create a NewCo (SPAC) whose sole purpose is to create a public shell. NewCo designed to do nothing but raise money and merge with […]

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Crimson Wine to restate 3+ years of financial results after independent review of “unreliable” accounting errors

  Crimson Wine Group will be  restating “unreliable” financial results for three fiscal years ended December 31, 2017, 2018 and 2019 after an independent review is completed, according to the company’s SEC 8-K Report of Dec. 22, 2020   According to the 8-K,  the reviews “relate to the allocation of costs to bulk wine inventory, […]

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Time Is Running Out For Prop 13 Transfers Of Property That Were Abolished by Prop 19

PROPOSITION 19: PROPERTY TAX AND ESTATE AND GIFT TAX ALERT By Robert M. Fanucci, J.D., Master of Laws (LL.M.) Taxation, New York University Gagen, McCoy, McMahon, Koss, Markowitz & Fanucci   Although the passage of Proposition 19 creates some limited benefits by expanding property tax “portability” benefits that permit taxpayers over 55, victims of natural […]

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Amorim TCA Claims: Where’s the proof?

Grand claims of a “magic bullet” require data to be credible otherwise, it’s just more marketing hype: Amorim Announces Enhancements to Eliminate Cork Taint.   Amorim’s claims come with no proof.   Where is the testing data from an independent third party that has tasted “n” number of corks which they were allowed to randomly […]

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Beckstoffer Vineyards restructures family’s farming & vineyard operations

NEWS RELEASE – December 7, 2020 Andy Beckstoffer of Beckstoffer Vineyards today announced the restructuring of his family’s farming and vineyard operations, separating the farming operations from vineyard ownership. Beckstoffer Vineyards will continue to own all vineyards under the family trust.   A new Corporation, Beckstoffer Vineyards Farming Services Company, will be formed to operate […]

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Constellation & Gallo sign FTC agreement to allow $1.03 billion asset deal

  CONSTELLATION BRANDS AND E. & J. GALLO SIGN AGREEMENT WITH FEDERAL TRADE COMMISSION STAFF RELATING TO CONSENT ORDER ON PENDING TRANSACTION; CONSTELLATION PROVIDES BUSINESS UPDATE FOR FISCAL 2021   VICTOR, N.Y., Nov. 9, 2020 – Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it and E. & […]

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Former Treasury Wine Estates CEO to take helm of Ste. Michelle Wine Estates

NEWS RELEASE Ste. Michelle Wine Estates October 28, 2020   WOODINVILLE, Wash. – Ste. Michelle Wine Estates announces the retirement of Jim Mortensen, President and CEO, effective November 1, 2020.   “The opportunity to work at Ste. Michelle Wine Estates was a wonderful privilege. I am immensely proud of the work this organization has accomplished,” […]

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