Utah firm invests $100 million more in Santa Rosa’s Vintage Wine Estates
Wasatch Global Investors of Salt Lake City has boosted its investment in Vintage Wine Estates by $100 million before the Santa Rosa wine company’s initial public offering of stock slated early May.
Vintage Wine Estates, and its partner Bespoke Capital Acquisition Corp., announced Tuesday that Wasatch’s investment increased to $128 million overall. In return, Wasatch will receive common shares of Vintage priced at $10 a share.
In February, Vintage said it planned an IPO of nearly $700 million and the company’s stock would trade on the Nasdaq market and carry the ticker symbol VWE.
Pat Roney, CEO of Vintage Wine Estates, said tapping stock market investors would allow the company to gather $1 billion to spend on potential acquisitions.
You can reach Staff Writer Bill Swindell at 707-521-5223 or firstname.lastname@example.org.
Business, Beer and Wine, The Press Democrat
In the North Coast, we are surrounded by hundreds of wineries along with some of the best breweries, cidermakers and distillers. These industries produce an abundance of drinks as well as good stories – and those are what I’m interested in writing. I also keep my eye on our growing cannabis industry and other agricultural crops, which have provided the backbone for our food-and-wine culture for generations.