Details of NVL Auction “Under Wraps,” Say Sources

Wine & Spirits Daily does an awfully good job day after day. Today’s coverage of the Inertia/New Vine auction is a good example.

“The memo from New Vine Logistics (NVL) released yesterday was rather vague as you’ll recall, particularly regarding the auction of NVL’s assets. Since then WSD has done some digging and we’ve come up with further details. As you know, Inertia Beverage Group (IBG) is holding a public auction to foreclose their newly acquired interest in the company, but a number of sources have agreed that IBG wants to acquire the assets themselves. If they succeed, New Vine’s customer base along with their agreements and contracts would be transferred to IBG, creating a “new” Inertia Beverage Group. Of course it would work best in IBG’s favor if no one else places a bid so they can acquire New Vine as cheaply as possible. They are reportedly in the process of raising additional capital.”

To read the rest, click on over to the Wine & Spirits Daily web site and scroll down.