Troubled Eos Winery Looking At Buyouts For Survival

Financially distressed Eos Estate Winery has sorted through at least half a dozen buyout offers and — as this article was being written — may have settled on one being arranged by Joel A. “Jake” Shapiro, the former head of the now-bankrupt 360 Global Wine Company, this according to multiple high-level investment sources, court documents, financial records  and other public documents.

“The Belle Haven package is the longest running offer so far,” said one ranking investment expert. “But this deal has been changing faster than Obama can spend all your money.”

EOS IN DISTRESS WITHIN WEEKS OF BEING SOLD IN NOV. 2009

Eos Estate is part of a portfolio of wines that were part of Sapphire Wines LLC, now owned by The Saint James Company (OTC: STJC), and includes the Novella, Lost Angel, Eos, Carneros Creek, Wildhurst and Cupa Grandis brands.

Eos Estates and its companion brands ran aground financially almost immediately after it was sold in November 2009 by a separate entity– Saphire Advisors. (One “p” in Advisors, two in the Wines LLC.)

For previous Wine Industry Insight coverage on Eos, please see the following:

• Eos Estates Talks Bankruptcy
• Saint James/Eos: 360 Global/Viansa Redux?
• Eos Estates On Brink of Collapse, Desperate For Funds
• After Ninja Turtles and Toxic Waste, Eos Estates Purchaser Must Walk Grueling Tightrope To Succeed
• The Saint James Company Acquires Sapphire Wines

BUYOUT BIDS STARTED EARLY IN 2010

According to investment experts close to five of the six potential buyers, acquisition offers began in February and included serious looks by: (The list and remainder of this 850-word article list available to VIP Premium Subscribers.)

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Also In This Article:

The full text of the following sections is available to VIP Premium Subscribers).

• WHEN FOLEY PUNTED, BELLE HAVEN/SHAPIRO STEPPED UP

• BUYOUT CLOUDED BY COMPETING PARTIES, LAWSUITS, DISPUTED LIEN PRIORITIES