Sonoma-Cutrer an “Ideal Strategic Complement” to Duckhorn Portfolio

Dear Client: Yesterday The Duckhorn Portfolio announced it reached an agreement to acquire Sonoma-Cutrer Vineyards from Brown-Forman for $400 million in a combination of company stock and cash [see WSD 11-16-2023].  Duckhorn brass explained the rationale behind the deal in a call yesterday evening. It's the first winery brand acquisition they've made as a public company, "and we believe it will deliver significant shareholder value," said interim chief Deirdre Mahlan.  "NATURAL ROOM TO GROW" IN CHARDONNAY. Sonoma-Cutrer is the No.3