News Briefs for August 20, 2015
August 20, 2015•Oregon’s Willamette Valley Vineyards has launched a preferred stock offering in an effort to raise $6 million to fund two new wineries. The offering, which provides a 5.3% dividend at its initial $4.15 share price, calls for a minimum purchase of 300 shares and a maximum of 1,205 shares. Winery founder Jim Bernau says that range was established because he wanted the investment to be within reach of many wine enthusiasts, and to prevent the stock from being purchased in large blocks. Willamette Valley Vineyards recently posted a first-half profit rise of 14.3%, including a 28% net sales jump in the second quarter.
•Italy’s Fantinel winery has partnered with fashion group Italia Independent to launch The Independent Prosecco in the U.S. market. South Carolina’s Total Beverage Solution, which will import The Independent, tells SND the new entry will retail around $15 and be distributed nationwide by January 1.
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