Winebusiness.com - Homepage for the Wine Industry

Bacchus Inks Financing Deal with Andretti Winery


Date: 06/21/11

"Andretti is at a critical point in its history."
by Cyril Penn

Bacchus Capital Management announced its latest financing deal in the wine industry involves providing capital for Napa’s Andretti Winery.

Terms were not disclosed but Bacchus Capital said it replaced the former senior secured lender and added significant capital on top of that.

Andretti is owned by one of the world’s greatest race car drivers, Mario Andretti.

“We’ve reached a point that our brand is known as a winery and not just locally, and nationally – but all over the world,” Mario Andretti told winebusines.com. “I think we have to grow judiciously but grow and that’s the mode we’re in right now, no question.” He said the winery plans to increase production of both traditional wines such as Cabernet Sauvignon but also of Italian varietals.

“Andretti is at a critical point in its history,” Andretti said in a news release. “We have spent nearly 20 years developing this magnificent property in the heart of one of the world’s finest wine regions and producing outstanding varietals. My name is on every bottle and I am committed to producing the best quality wines across a range of prices.”

Andretti founded the winery with his longtime friend, Joe Antonini, a former chairman & CEO of Kmart Corporation. It currently produces about 25,000 cases a year, about 40 percent of which goes through distributors. The wines are available in 39 states though the winery currently focuses strongly on 12 states.

Antonini said working with Bacchus Capital will enable the winery to build on its brand recognition and acceptance, expand inventory, production, infrastructure and distribution. “As we talked about the future of Andretti Winery, we thought it was important to take it to the next level,” Antonini said. “To do that we needed more capital.”

Bacchus Capital Management is an investment and advisory firm co-founded in 2007 by Sam Bronfman II, Peter S. Kaufman and Henry F. Owsley providing alternative financing and equity capital to wineries and wine businesses. Recent deals have included Cameron Hughes, Qupé, and Olsen Agricultural Enterprises.

Bacchus' Peter Kaufman said more deals are “in the hopper.”
 

Subscribe to Daily news Email

FREE Wine Business Daily News delivers the industry's top stories emailed to you from our editorial team.

most popular daily news links

latest grapes & bulk wine

- grapes & bulk wine  •  Dec 19, 2014 at 1:40PM PST
- grapes & bulk wine  •  Dec 19, 2014 at 1:40PM PST
- grapes & bulk wine  •  Dec 19, 2014 at 1:40PM PST
- grapes & bulk wine  •  Dec 19, 2014 at 1:40PM PST
- grapes & bulk wine  •  Dec 19, 2014 at 1:40PM PST

latest used barrels

- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 18, 2014 at 8:02AM PST
- used barrels  •  Dec 17, 2014 at 8:43AM PST
- used barrels  •  Dec 17, 2014 at 4:20AM PST

latest real estate

- real estate  •  Dec 19, 2014 at 9:10AM PST
- real estate  •  Dec 10, 2014 at 9:31AM PST
- real estate  •  Dec 2, 2014 at 9:34AM PST
- real estate  •  Nov 28, 2014 at 2:29PM PST
- real estate  •  Nov 25, 2014 at 9:51AM PST

latest used equipment

- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 3:23PM PST
- used equipment  •  Dec 18, 2014 at 11:05AM PST
- used equipment  •  Dec 18, 2014 at 9:40AM PST

latest services & supplies

- services & supplies  •  Dec 18, 2014 at 7:36AM PST
- services & supplies  •  Dec 16, 2014 at 12:55PM PST
- services & supplies  •  Dec 15, 2014 at 11:21AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST
- services & supplies  •  Dec 13, 2014 at 6:52AM PST

industry events

Search Events:

Copyright© 1994-2014 by Wine Communications Group. All Rights Reserved. Copyright protection extends to all written material, graphics, backgrounds and layouts. None of this material may be reproduced for any reason without written permission of the Publisher. Wine Business Insider, Wine Business Monthly, Grower & Cellar News and Wine Market News are all trademarks of Wine Communications Group and will be protected to the fullest extent of the law.