This Week Uncorked

California’s Vintage Wine Estates has filed for bankruptcy, driven by a severe drop in stock value and significant debt, with the former Cosentino Winery being sold to entrepreneur Brion Wise for $10.5 million. Meanwhile, vineyard workers face financial strain from extreme heat, Congress questions the selection of anti-alcohol advocates for

Pernod Ricard is divesting most of its wine brands, including Jacobs Creek and Campo Viejo, to focus on its core spirits business, while new ventures and closures in the wine industry highlight shifting trends and challenges.

Darioush Winery has expanded its Napa Valley holdings by purchasing a 21-acre vineyard near Yountville for approximately $10 million, adding to its now 65 vineyard acres in the region. Meanwhile, a significant portion of California’s 2024 wine grape harvest faces the threat of going to waste due to an economic

CMB Wines has acquired the historic Foppiano Winery and Vineyards in Healdsburg, CA, aiming to preserve its legacy while integrating it into the Martin Ray portfolio and investing in its future growth.

Franz Haas, a renowned Italian wine producer, has sued Winebow for allegedly causing over $30 million in damages by interfering with its business relationships and misrepresenting its distribution rights.

The Bouygues family of Château Montrose fame extends their winemaking legacy beyond France with the acquisition of Virginia’s RdV Vineyards, now rebranded as Lost Mountain, aiming to enhance its stature in the American wine scene.

Amid rebranding efforts like E & J Gallo’s shift to high-quality wines, regulatory collaborations to prevent underage alcohol exposure, and changing grape values in Napa Valley, the US wine industry faces environmental challenges and innovation, exemplified by the reopening of Signorello Estate with fireproof features and luxury experiences.

Domaine Faiveley’s majority acquisition of Williams Selyem highlights significant shifts in the wine industry, amid declining Bordeaux vineyard values, rising Chablis demand in the USA, regulatory actions against Southern Glazer’s, and innovative sustainability practices in Napa Valley.

Amid acquisitions like Horse Heaven Wine Company’s purchase of Ste. Michelle’s Prosser facility, the US wine industry is launching innovative campaigns to engage younger consumers, while facing challenges such as Vintage Wine Estates’ financial struggles and severe weather impacts on French vineyards.

Ram’s Gate Winery’s surprising acquisition by O’Neill Vintners & Distillers signals a bold move into the luxury wine market, reflecting broader industry trends towards high-end and sustainable wine production.

Amidst California’s wine industry challenges, a recent report forecasts a 10% market expansion over the next decade, signaling a potential resurgence for wineries grappling with shifting consumer preferences. Despite pandemic-induced sales downturns and the rise of alternative beverages, boutique wineries and premium labels stand poised to capture emerging market trends,

In New York City, restaurant wine prices have skyrocketed, with even basic bottles now starting at $80, marking a significant shift over the past decade, exacerbated by the pandemic. This inflation is attributed to increased production costs and heightened expenses, leading patrons to reconsider their wine choices and opt for