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From: lewis.perdue@wineindustryinsight.com

Subject: Private Equity Firm Takes Over Crushpad, Plans Asset Sale --NEWS EXTRA - July 27, 2012 -WINE INDUSTRY INSIGHT

Date: 2012-07-27 17:01:40

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CRUSHPAD PLANS ASSET SALE,

PRIVATE EQUITY FIRM IN THE BIDDING

 

July 27, 2012

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CastleGate Capital Advisers Hopes To Maximize Returns, Help Clients Get Wine, Avoid Liquidation


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Crushpad's board of directors Thursday assigned the company to Sherwood Partners, the same Mountain View asset disposition company used by New Vine Logistics and MyWines Direct. Sherwood has scheduled a sale of Crushpad's assets on Aug. 7.

Tiburon-based CastleGate Capital Advisors, which has purchased the company's debt from Silicon Valley Bank, hopes to be the successful bidder in that sale, according to firm founder Philip Von Burg who said he has been working with Crushpad to come up with a plan that will avoid liquidation and allow clients to obtain their wine.

Click here to read the entire article at Wine Industry Insight


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