News Briefs for August 23, 2012

•Graton, California-based Purple Wine Co. has introduced a new red blend, Cryptic. The wine was released to distributors on August 1 and will have nationwide distribution both on-premise and off ($18 a 750-ml.). About 15,000 cases of Cryptic were produced. Cryptic features a Zinfandel, Petite Sirah and Cabernet Sauvignon sourced from 30 different vineyards throughout the Sierra Foothills, Paso Robles and Lodi. Purple Wine Co.’s portfolio also includes California brand Avalon ($10-$19), which depleted 205,000 cases in 2011 and is slated to reach 225,000 this year; Bex ($10), a small German Riesling brand that’s expected to reach around 25,000 cases this year; and California Zinfandel and Chardonnay label Four Vines, which Benham expects to grow around 25% to 170,000 cases in 2012. Constellation Brands acquired Impact “Hot Brand” Mark West from Purple Wine Co. in late June for an undisclosed sum.

•Southern Wine & Spirits of Florida has named Marty Durkin as vice president-marketing & sales planning. Durkin replaces Art Friedman—who will now run the recently restructured SWS-Florida Retail Chain Division—and will move into the position as soon as his own replacement is named. Durkin will report to SWS Florida executive vice president-general manager Steve Power. He joined SWS in 2009 as vice president-sales and marketing for Pernod Ricard brands, managing Pernod’s national business for all Southern markets. He also served as vice president of the Southeast division at Pernod Ricard USA, where he managed 10 states.

•Del Frisco’s Restaurant Group saw net income triple in its second quarter ended June 12. The company, which went public August 1, posted net income of $3.6 million, up from $1 million during the same period last year, while total revenues were $51.3 million, up 17.9% from $43.5 million in 2011. Del Frisco’s, which owns and operates the Del Frisco’s Double Eagle Steak House, Sullivan’s and Del Frisco’s Grille restaurant brands, posted a same-store sales increase of 4%. The company reports that its initial public offering of 5.8 million shares at $13 each earned it $70.1 million, the majority of which has been used to repay its lenders. Del Frisco’s currently has more than 30 restaurants in 18 states, with plans to open a new Del Frisco’s Grille in Atlanta and a Double Eagle Steak House in Chicago later this year.

Tagged : Purple Wine Co, restaurants, Southern Wine & Spirits

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