Truett-Hurst Relieved That Hambrecht’s VML Winery Has Been Sold To Hunneus Vintners

Truett-Hurst (Nasdaq: THST) staff and shareholders are relieved that VML Winery has reportedly been sold to Huneeus Vintners for $15.5 million.

 

The status of VML — THST’s primary production facility — has been in limbo since last October when Hambrecht attempted to evict  Truett-Hurst from the winery.

 

The trustee auction sale was first reported by Wine Industry Insight on July 13.

 

That breaking news article allowed potential bidders sufficient time to prepare an offer: $8 million in arrears, Hambrecht’s VML Winery set for lien auction. News of the actual sale to Huneeus was first reported online yesterday by Wine Business.Com.

 

The original article along with numerous links from Wine Industry Insight’s lengthy coverage of Bill Hambrecht is reproduced below.

Truett-Hurst Relieved

According to the Santa Rosa Press Democrat:

Huneeus Vintners has made an arrangement to allow Truett-Hurst to remain in place in the short term, said Huneeus spokesman Joel Fisher. That also applies to Alysian Wines, which is operated by Woody Hambrecht, Bill’s grandson, and is located on the Westside property as well.

Phil Hurst said that his company is working “really well together” with Huneeus Vintners and the sale should not cause any major disruption, especially because it also has a facility on Dry Creek Road that can produce 40,000 cases annually. “We’re looking at a lot of options,” Hurst said.

VML Winery in Healdsburg has been scheduled to be sold to the highest bidder at a public auction next week The winery is owned by the Hambrecht Wine Group and is the primary production facility for the Truett-Hurst Wine company.

 

In October 2015, Hambrecht sought to evict Truett-Hurst from the VML Winery which had been leasing the facility. Truett-Hurst counter-sued Hambrecht the following month.

 

Hambrecht subsequently allowed VML Winery to fall into default on his loans.

 

The full text of this article is available to premium subscribers who can click here for access.

 

The following complete documents are also available to premium subscribers of Wine Executive News:

 

• Notice of Trustee’s Sale of VML Winery
• Sonoma Superior Court order appointing a receiver for VML Winery

Recent Wine Industry Insight coverage of Bill Hambrecht

• Truett-Hurst Sues Hambrecht Over Winery Eviction Effort
• Hambrecht Moves To Evict Truett-Hurst From Key Facility: VML Winery
• Bill Hambrecht Hit By New Multi-Million-Dollar Federal Lawsuit
• Finra’s Hambrecht Action No Surprise to Wine Industry Insight readers

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