News Briefs for August 14, 2018
August 14, 2018•Seattle-based Precept Brands has acquired the private label business of Healdsburg, California’s Truett-Hurst for $18 million.The deal includes Truett-Hurst’s wholesale bottled wine inventory, brands, supplies and bulk wine inventory used for the company’s control label wine brands, which are produced under a variety of labels and sold primarily to national retail chains. Truett-Hurst will retain its direct-to-consumer business and Dry Creek Valley Estate in Healdsburg, and will focus on its principal namesake brand, as well as its VML label, moving forward. Current Truett-Hurst CEO Phillip Hurst will join Precept as chief innovation officer on November 1, but will remain on Truett-Hurst’s board. Truett-Hurst has named co-founder Paul Dolan as interim CEO, effective on the same date, replacing Hurst. Precept, known for brands like House Wine and Ste. Chapelle, had volume of 1.5 million cases on 7% growth last year.
•William Grant & Sons has released The Balvenie Fifty: Marriage 0962. The single malt Scotch whisky is a 41.8%-abv blend of four casks that matured for a half-century or longer in American oak. It’s bottled in a hand-blown crystal decanter made at Glasstorm in Tain, Scotland, and packaged in a wooden tube made from 48 layers of walnut and two of brass. The Balvenie Fifty: Marriage 0962 is now available at select retailers across the U.S. for a suggested price of $38,000.
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