Cosentino Winery Re-Opening Planned For End of January

Napa Valley’s Cosentino Winery should be back in business and the tasting room re-opened to the public by the end of January, according to multiple sources involved with the operation.

As previously reported, Santa Rosa, CA-based Vintage Wine Estates (VWE) purchased the Yountville winery from Physicians Reciprocal Trust after PRI took it back in a foreclosure sale.

VWE owns Girard Winery, Sonoma Coast Vineyards, Windsor Sonoma Winery, Grove Street Winery, Fire Station Red, StoneFly Vineyards, Windsor Vineyards, and International Wine Accessories.

Wine Industry Insight has pieced the following details together:

• VWE paid in the neighborhood of $8 to $9 million for the winery, inventory and some equipment.
• VWE did not acquire any of the Lodi and Pope Valley vineyards and wine making facilities owned by the VinReit unit of Entertainment Properties Trust.
• Mitch Cosentino will serve as a consultant.
• Wine production will probably be moved to another facility owned by VWE.
• Growers, whose liens amount to approximately $1 million, will be paid through the sale of inventory.
• Much of the wine making equipment will be returned to the lienholders
• VWE probably will hold a sale of library wines.
• The Poet — the winery’s signature, top-end red — will continue to be made.
• Transferring state and federal licenses is the biggest delay in re-opening.

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE OF COSENTINO WINERY

• Cosentino Winery Sale Set, Management AWOL
• Cosentino Winery Closes
• Cosentino Winery Hit With Involuntary Liquidation Court Papers
• Cosentino Winery In Foreclosure, Owes Almost $20Mln, Liquidation May Be In Works.
• Cosentino Winery: New $147K IRS Lien, $511K Court Levy, Possible Cellar Gear Repo
• Cosentino Financing Fails, Will Cease Custom Crush
• Cosentino Running Out of Last Chances? Growers Head For Court, MCOZ Stock Suspended Again
• Cosentino Gets Brief CDFA License Suspension
• Cosentino: Legal, Regulatory Hurdles Mount
• Cosentino Loses $14.2Million on Revenues of $10.2Million
• Cosentino Winery’s Legal Issues Could Seal Its Fate In Next Few Weeks
• Cosentino Winery Sued For $500K+ In Latest Legal Battle
• Follow-Up On CDFA Cosentino Hearing
• Judge Lets Cosentino Dodge $1.2 Million In Grower Payment Demands
• Cosentino Woes Mount, Stock Trading Suspended
• Cosentino’s Strong Consumer Support Not Reflected In Financials
• Cosentino Scrambles For Shelter To Stay Ahead Of Lawsuits
• Sale/Leaseback Owners Shopping Cosentino’s Lodi, Pope Valley Wineries and Vineyards
• Cosentino’s Financial & Legal Woes Gathering Momentum
• Cosentino Defaults On Loan Interest, Says Current Banks Won’t ReFi