We are pleased to announce that we have reached agreement to sell Kosta Browne (KB) to Duckhorn Wine Company with a closing scheduled for August 1, 2018.
JWC was originally attracted to Kosta Browne for its highly sought-after wines, enthusiastic customer base and groundbreaking direct-to-consumer business model. Since our acquisition in 2014, KB has made significant investments in vineyards, winery operations and the management team to produce exceptional American Pinot Noir and Chardonnay. The addition of Scott Becker as CEO and the promotion of Nico Cueva to winemaker shortly following our acquisition were important steps in the winery's evolution. During our ownership of KB, the company invested nearly $20 MM of capital to acquire the Cerise Vineyard in Anderson Valley, enhance production at the winery and open a new state-of-the-art hospitality space. These investments were focused on meeting increased consumer demand while continuing to elevate wine quality.
We enjoyed our partnership with this iconic California winery and look forward to many more successful KB vintages