News Briefs for April 19, 2012April 19, 2012
•Total Wine & More has opened its third Orange County, California location with a new store in Huntington Beach. The 22,000-square-foot outpost will feature more than 8,000 wines, 3,000 spirits and 2,500 beer offerings—including rare microbrews and imports—and offer a range of educational consumer programs. The new Orange County location joins Total Wine’s existing 79 stores in 11 states. The retail chain recently announced plans to enter the Dallas, Texas, market this summer, as well as New Mexico and newly privatized Washington by year-end, which will bring its footprint to 14 states. Total Wine is aiming to double its annual sales to $2 billion within five years.
•Ellerston Capital, an Australian investment group backed by businessman James Packer (son of late Australian media mogul Kerry Packer) has upped its stake in Treasury Wine Estates from 5.03% to 6.1%, according to Melbourne newspaper The Age. Ellerston issued a statement to the Australian Securities Exchange earlier today informing them of the development, saying it now owns 39.45 million shares in Treasury Wine Estates, currently valued at $175 million ($181m). Treasury’s shares are up more than 22% since January and closed today at A$4.44 ($4.59) on the Australian Securities Exchange in Sydney.
•Sonoma-based Cecchetti Wine Company has launched a nationwide wine by-the-glass restaurant promotion for its Line 39 brand. The initiative, which runs through June 29, asks restaurant chefs and sommeliers to submit their best Line 39 Sauvignon Blanc food pairings for a chance to host the brand’s fifth anniversary dinner celebration later this year. Photos of each pairing will be posted on Facebook, allowing consumers to vote for the winning entry online. Priced at around $10 a 750-ml., the Line 39 range features five varietals sourced from the central and north coasts of California. A 2011 Impact “Hot Prospect,” the brand achieved its fourth consecutive year of double-digit growth after growing 31% to 85,000 cases last year.
•Brown-Forman is releasing an exclusive mint julep featuring Woodford Reserve Bourbon for the Kentucky Derby. Some 75 cups are being sold. Sixty-five are priced at $1,000, while 10 Prestige Cups (made of sterling silver plated in 24-karat gold and featuring a diamond-studded horseshow) are priced at $2,000. Contents include the new Woodford Reserve Double Oaked as well as lemon mint and spearmint. The cups are selling on www.woodfordreservemintjulep.com until May 3, with extras to be sold at the Derby on May 5. Proceeds benefit Heart of a Horse, a foundation providing care for horses.Tagged : Brown-Forman, Cecchetti Wine Co, Total Wine & More, Treasury Wine Estates