Qupé Acquired By Charles Banks’s Terroir Selections, Reports Wine SpectatorOctober 11, 2013
Qupé, a Santa Barbara winery specializing in Rhône-style reds, has been purchased by Charles Banks and Terroir Selections, adding to the investment group’s growing portfolio of wine brands. Founder and winemaker Bob Lindquist will stay on, assuming the role of partner. The sale price was not disclosed.
“I’ve been a huge fan of Bob for a long time and love his wine,” Banks told Wine Spectator. “It’s a chance to take a Rhône-focused winery in California and take it to the next level.” Qupé has been expanding production in recent years, but Banks suggests he wants the winery to refocus on what it does well—Syrah.
Lindquist has been looking for capital in recent years. In 2011, Bacchus Capital Management, another wine-related investment group, signed a deal to provide growth capital to Qupé. At the time, Lindquist said he hoped to double production by 2016. Shortly after Terroir announced its purchase, Bacchus released a statement saying it had exited its investment in Qupé. “Bacchus helped us at a time we needed help financially at the tail end of the recession,” said Lindquist. “But I had been looking for a long-term financial partner.” Lindquist has now found that in Charles Banks and Terroir Selections. For the full report from Wine Spectator, click here.Tagged : wine