Bankruptcy Auction Of Renwood Winery Set For July 18

Editor’s note: This is not the “small lifestyle winery” in Ione written about by SavvyTaste’s Mac McCarthy — Is Kent Rosenblum Buying A Winery?.

Please scroll down for an index of Wine Industry Insight’s coverage of the Renwood bankruptcies dating to 2009.

NEWS RELEASE

An auction of the assets of Renwood Winery, located in the foothills of the Sierra Nevada Mountains, has been scheduled for July 18, 2011, at 10:00 a.m. The auction will include the sale of substantially all winery assets, including equipment, inventory, leasehold interests, certain contract rights, and intellectual property, free and clear of any debt obligations.

The auction will take place at the United States Bankruptcy Court located at 501 “I” Street, 6th Floor, Department 34, Sacramento, California 95814.

Renwood Winery has 65,000 square feet of production and storage space in two facilities, which can produce and bottle up to 150,000 cases of wine per year. Facilities also include a wine cellar, tasting room, retail sales room, and administrative offices.

The winery has a 20,000 square‐foot under roof production area for harvesting, pressing and fermenting wine grapes, a 7,500 square‐foot insulated storage facility, a 17,200 square‐foot storage building for barrels, and separate tank storage with a total capacity of 3,000 barrels.

Additional highlights of the winery include:

Established customer base that includes some of the largest retailers and distributors in the U.S.

• More then 10,000 visitors at winery’s tasting room last year
• Flagship wine comes from the oldest clone of Zinfandel in America, dating back to the 1860s
• Recipient of numerous medals worldwide, and subject of multiple features in top wine magazines
• Ownership of significant intellectual property developed over 15 years of marketing
• Experienced sales force with national footprint
• Underutilized capacity and potential for operational improvement

“We are pleased to be part of the team that is presenting such an opportunity to the public,” said Winston Mar, Managing Director of CRG Partners Group. “Renwood represents exceptional craft and quality that is attractive to collectors, enthusiasts and investors alike. We are excited to see the auction results.”

For more information concerned the auction, including bidding, qualifications to bid, and nondisclosure requirements, please contact the following:

Contacts

Winston Mar
Managing Director
(562) 858‐2200
winston.mar@crgpartners.com

Kevin Gifford
Director
(310) 991‐3307
kevin.gifford@crgpartners.com

www.crgpartners.com

CRG Partners Group, LLC, 11835 West Olympic Blvd., Suite 650E, Los Angeles, CA 90064

About Renwood Winery

Founded in 1993, Renwood is the steward of California’s oldest Zinfandel vineyard. Renwood produces and sells eighteen foothill wine varietals, including Zinfandel, Barbera, Syrah, Cabernet Sauvignon, Chardonnay, and Pinot Grigio. For more information, please visit http://www.renwood.com/

About CRG Partners Group, LLC

CRG Partners is a leading provider of operational improvement and financial restructuring services specializing in creating value for the stakeholders of underperforming companies. CRG Partners offers superior leadership and expertise in the restructuring process, while collaborating with our clients’ management teams to quickly identify, develop and implement solutions that yield sustainable results. With an international presence and offices throughout the country, CRG Partners is one of the largest advisory and interim management firms in the U.S.

PREVIOUS WINE INDUSTRY INSIGHT COVERAGE OF RENWOOD BANKRUPTCIES

Rabobank, W.J.Deutsch Take Massive Write-Downs As Court Clears Way For Renwood Winery Sale
The sale of financially troubled Renwood Winery has moved a step closer with the  approval of a consent agreement that will allow the assets to be sold free and clear of liens and lawsuits.

Calif Appeals Court Finds For W.J. Deutsch In $5.6 Million Renwood Winery Litigation
A California appeals Court has denied Renwood Winery’s bid to invalidate an arbitrator’s decision against it in a $5.6 million contract dispute with W.J. Deutsch (WJD).

Court Appointed Receiver Keeps Renwood Winery Open After 100% Layoffs
The receiver for Renwood Winery, appointed by Judge Robert S. Bardwil of the U.S. Bankruptcy Court for the Eastern District of California, has reversed the layoffs that terminated all winery employees […] November 2, 2010

Bankruptcy Trustee Sues Renwood Winery For $1 Million
The U. S. Bankruptcy Trustee appointed to oversee the Chapter 11 of the Renwood Group, Inc. (RGI) has filed two adversary proceedings against Renwood Winery to recover $995,000 in allegedly improper or fraudulent payments from RGI to the winery. RGI, which filed for Chapter 11 bankruptcy protection on Oct. 9, 2009, owns 94.74 percent of Renwood […]October 20, 2010

Renwood Group, Lender Spar Over Canceled Trademarks, License Deals
While TLA and Renwood Group (the parent company of Renwood Winery and Renwood Vineyard Properties) have crossed swords for months over the production of documents by both sides, court documents indicate that TLA’s request for a court-appointed trustee grew most urgent when it says it suspected that all three Renwood companies “were engaging […] August 3, 2010

Bankruptcy Trustee To Examine Renwood Group Finances
Sacramento CPA David D. Flemmer has been approved by the U.S. Bankruptcy Court for the Eastern District of California as U.S. Trustee to oversee Renwood Group’s bankruptcy reorganization. In addition, Judge Robert S. Bardwil has also approved Flemmer’s request for a Rule 2005 examination. August 3, 2010

W.J. Deutsch-Renwood Legal War Worthy Of A Grisham Novel
EDITOR’S NOTE: This is one of Wine Industry Insight’s longer articles. But even at more than 2,300 words, it is impossible to do more than touch on some of the more prominent aspects of this very complicated litigation.
Because of this, we have included links to far more than the average number of full legal […] February 17, 2010

Bankruptcy Update – Diamond Oak, Renwood, Stevenot
[…] January 10, 2010

Renwood Winery Parent Companies File Chapter 11
Recession-induced changes in bank behavior — with bailed-out institutions lending less and paying big exec bonuses — have tripped up a prominent player in Amador County’s Zinfandel movement according to Robert I. Sterling, founder and Chairman of Renwood Winery Inc. whose two parent companies have filed Chapter 11 […] October 22, 2009