News Briefs for October 13, 2011
October 13, 2011•Darden Restaurants Inc. has agreed to purchase Eddie V’s Prime Seafood and Wildfish Seafood Grille restaurant chains from Arizona-based Eddie V’s Restaurants Inc. for $59 million. The acquisition, which will encompass the existing eight Eddie V’s locations and three Wildfish locations in Arizona, California and Texas, will be completed by year-end. Both luxury seafood brands will be added to Darden’s specialty restaurant group, joining its Capital Grille, Bahama Breeze and Seasons 52 chains. Following the deal’s completion, the company will retain Eddie V’s leadership team, as well as keep Eddie V’s founders Guy Villavaso and Larry Foles on board to provide consulting services for the next two years. Darden, which also operates the Red Lobster, Olive Garden and LongHorn Steakhouse casual dining chains, reported sales of $7.5 billion for its fiscal year ended May 31, up 5.4% over the previous year. The recent Eddie V’s purchase is not expected to affect the company’s fiscal 2012 profit.
•Sazerac is launching Wave, a new line of flavored vodkas, into the U.S. market this month. The brand is starting with five 60-proof flavor extensions—Grape, Cherry, Whipped Cream, Blue Raspberry and Pink Lemonade—as well as an 80-proof unflavored vodka, with plans to expand the line in the future. All are priced at $8.99 a 750-ml. Wave also comes in 50-ml., 1-liter and 1.75-liter bottle sizes.
•Constellation Wines has teamed up with Sonoma winemaker Steve Reeder and musician Dave Matthews to introduce The Dreaming Tree wine range to the U.S. market this month. A collaborative winemaking effort between Reeder and Matthews, the new California line is named after the Dave Matthews Band track, “The Dreaming Tree,” from the band’s 1998 album, “Before These Crowded Streets.” The range features a 2010 Central Coast Chardonnay, 2009 North Coast Cabernet Sauvignon and 2009 North Coast Crush red blend, all priced at $14.99 a 750-ml.
•Sonoma’s Cecchetti Wine Co is adding to its sales team with two new hires. Cheryl Ames has been named the company’s Midwest regional sales manager. Now responsible for Cecchetti’s sales across OH, MI, WI, MN, IN and KY, Ames has experience in the St. Supery and Peak Wines organizations and was most recently sales manager for Maverick Wine Co. Kortney Fitchner has been appointed sales ambassador for Northern California. She’s a veteran of the Francis Ford Coppola Winery, Kendall-Jackson, and Hilton Hotels organizations.
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