Wagner Family Fields A New Growth Driver In Bonanza Cabernet
March 26, 2024California’s Wagner Family of Wine is known for flagship label Caymus Napa Valley Cabernet Sauvignon, along with other brands like Mer Soleil, Emmolo, Conundrum, and Red Schooner, with production of more than 1 million cases annually. Most recently, the company’s Bonanza Cabernet Sauvignon has emerged as a major growth driver within the portfolio, and owner Chuck Wagner tells SND that it’s full speed ahead in 2024.
Bonanza, which retails around $22 depending on the market, has soared from 131,000 cases in the U.S. in 2020 to nearly 360,000 cases last year, according to Impact Databank, adding 60,000-80,000 cases annually over that span. Momentum remains strong in the early part of this year. “Sales of Bonanza Cabernet in the first weeks of 2024 have been vigorous,” says Wagner. “In fact, I am not convinced that we can supply the market for this year.
“We’re trying to produce the best bang for the buck California Cabernet,” he continues. “I think the wine’s quality, character, and reasonable price are the basic reasons for its success. But I’ve got to tell you that the combination of people involved are key. We’re all very excited about Bonanza’s up selling in a slowing market. I would even say exhilarated.”
While demand for Bonanza is robust, Wagner says supply for the non-vintage Cab looks strong for the coming years. “The truth is the future looks bright, as there are plenty of good Cabernet grapes in Lodi, and for the most part Bonanza is sourced from Lodi. It’s not your father’s Cabernet.”
Asked whether the Bonanza brand could be extended with other wines looking ahead, Wagner says the plan is to remain laser-focused on quality Cabernet for the present. “We are not a public company and are very cautious about adding SKUs, so I’m not sure. Possibly Bonanza is simply meant to be a well-priced enjoyable Cabernet?” —Daniel Marsteller
Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
