News Briefs for January 28, 2016January 28, 2016
•Total Wine & More co-owner David Trone has officially launched his bid to become the U.S. Representative for Maryland’s 8th District. Trone becomes the eighth contender in the Democratic primary to succeed current Rep. Chris Van Hollen, who’s running for the U.S. Senate. Trone told the Washington Post that the race is “very winnable,” and that he intends to spend “whatever it takes” to win the seat, the campaign for which could cost from $1-$3 million. He added that he will limit individual contributions to his campaign to $10. Other contenders in the Democratic primary include former Marriott executive and news anchor Kathleen Matthews (wife of MSNBC’s Chris Matthews) and Maryland state senator Jamie Raskin.
•Santa Barbara winemaking star Joey Tensley and his wife, Jennifer, are taking their brand to the next level. Tensley Wines has purchased the 115-acre Colson Canyon property in the hills of Santa Maria, which includes 16 acres of vines, from grower Reo Reiswig. The Tensleys have been purchasing Colson Canyon fruit since 2000. The sales price was not disclosed. Wine Spectator has more.
•Deep Eddy founder Clayton Christopher has formed a new investment group called CAVU Venture Partners. Christopher, who founded Deep Eddy with fellow entrepreneur Chad Auler before selling the brand to Heaven Hill last year for around $400 million, has linked with former Coca-Cola executive Rohan Oza and former Thematic Capital Partners managing member Brett Thomas on CAVU, which has raised $156 million to date, Fortune reports. While CAVU will be active across a variety of consumer goods, it’s targeting the drinks segment with Mighty Swell, a line of all-natural juice-based sparkling cocktails that it is developing from the ground up.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.