News Briefs for June 23, 2011
June 23, 2011• Racing legend Mario Andretti’s Napa Valley Andretti Winery is set to get a capital injection from San Francisco wine investment firm Bacchus Capital, the partnership between former Seagram Chateau & Estate president Sam Bronfman II and investment bankers Peter Kaufman and Henry Owsley. Founded in 1995 with Andretti’s longtime friend Joe Antonini, former chairman and ceo of Kmart, Andretti Winery owns over 50 acres of vineyards in Napa and sells wines in the super-premium segment under its eponymous label.
• Applebee’s has unveiled new summer cocktail options at its 1,800 U.S. locations. The new offerings include a Berry Sangria (Sutter Home Cabernet, DeKuyper Razzmatazz liqueur, orange and cranberry juices and fresh-squeezed orange and lime), a Lemon Drop Martini (Absolut Citron shaken with tangy lemon and rimmed with sugar), Flavored Mojitos (Cruzan rum muddled with fresh mint, lime juice and sugar served over ice and topped with club soda, available in regular, strawberry, wildberry and mango flavors) and a Raspberry Meltdown Margarita (Sauza Gold mixed with Applebee’s signature Margarita mix and blended with ice and topped with a meltdown floater of DeKuyper Razzmatazz.)
• According to Chile’s Office of Agricultural Studies and Policy, Chilean wine exports totaled nearly $504 million for the five months through May 31, 2011, indicating a 19% increase in value on the same period last year. The growth reflects an overall rise in pricing as Chilean wines continue to move upmarket in the U.S., led by premium-priced brands like Casa Lapostolle and Almaviva. In 2010, Chilean wine exports to the U.S. rose 9.9% to 7.1 million cases, according to Impact Databank.
• Paddington Corp. and Pelican Brands have merged to create Indiana-based Paddington Brands LLC, led by chairman and CEO J. Smoke Wallin. Featuring office and third-party warehousing outposts in California and New Jersey, the newly formed group is owner of the Tequila 3 Amigos and Napa Smith Brewery & Winery brands, both of which are expected to roll out nationally this year. Additionally, Paddington Brands will serve as the exclusive importer and sales agent for several spirits and wine brands, including Chase Vodka and Agoston Wines, among others.
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