Butterfly Completes $2 Billion Deal For Duckhorn

Los Angeles-based private equity group Butterfly has completed its acquisition of California luxury wine player Duckhorn for $11.10 per share, in an all-cash transaction valued at approximately $1.95 billion. The deal was originally announced in October. Previously a public company, The Duckhorn Portfolio’s common stock has now ceased trading and will no longer be listed on the New York Stock Exchange.

“Duckhorn’s remarkable portfolio of luxury wine brands has established a legacy of excellence, and we are excited to build on that success,” said Adam Waglay, co-founder and co-CEO of Butterfly. “Together, we look forward to expanding the company’s global reach, both organically and through strategic acquisitions, and continuing to bring its celebrated wines to more consumers who value quality and craftsmanship.”

According to Impact Databank, Duckhorn is the 20th-largest wine marketer in the U.S. by volume, up 5.5% to 2.6 million cases last year, with 2024 sales of roughly $400 million. For its first fiscal quarter of 2025, Duckhorn reported net sales of $122.9 million, a 19.9% increase over Q1 2024, with growth boosted by the addition of Sonoma-Cutrer, which Duckhorn acquired last year from Brown-Forman.—Daniel Marsteller

Tagged : Butterfly, Decoy, duckhorn, Sonoma-Cutrer

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