News Briefs for December 23, 2014December 23, 2014
•Crimson Wine Group has named Patrick DeLong as president and CEO, replacing Erle Martin, who stepped down in November. DeLong, a company veteran of seven and a half years, was previously COO and CFO of Crimson. He had also been filling the CEO role on an interim basis following Martin’s departure. Prior to joining Crimson, DeLong was SVP and CFO of Constellation’s Icon Estates unit, and spent seven years with the Robert Mondavi corporation. Craig Williams, a member of Crimson’s board of directors, succeeds DeLong as COO of the company, which plans to recruit both a new CFO and an SVP, direct to consumer, a newly created post, looking ahead.
•Gruppo Campari has agreed to sell its Limoncetta di Sorrento lemon liqueur business to Italian countrymate Lucano 1894, producer of the Amaro Lucano brand. The deal, worth €7 million ($8.5m), consists of the Limoncetta di Sorrento trademark and 100% of the share capital of Alimenta S.r.l., which owns a related production plant. The transaction is expected to close January 30. Lucano recently tapped Domaine Select Wine Estates to import its namesake Amaro and other labels to the U.S.
Subscribe to Shanken News Daily’s free Email Newsletter, delivered to your inbox each morning.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.