{"id":207716,"date":"2021-03-22T01:42:00","date_gmt":"2021-03-21T22:42:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/duckhorn-eyes-potential-for-more-winery-acquisitions-following-ipo\/"},"modified":"2021-03-22T01:42:00","modified_gmt":"2021-03-21T22:42:00","slug":"duckhorn-eyes-potential-for-more-winery-acquisitions-following-ipo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/duckhorn-eyes-potential-for-more-winery-acquisitions-following-ipo\/","title":{"rendered":"#\n  Duckhorn eyes potential for more winery acquisitions following IPO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc21c6f110\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc21c6f110\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/duckhorn-eyes-potential-for-more-winery-acquisitions-following-ipo\/#Duckhorns_2020_sales_were_powered_by_grocery_aisles\" >Duckhorn\u2019s 2020 sales were powered by grocery aisles<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/duckhorn-eyes-potential-for-more-winery-acquisitions-following-ipo\/#Joy_Wiltermuth\" >Joy Wiltermuth<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Duckhorn eyes potential for more winery acquisitions following IPO<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Duckhorns_2020_sales_were_powered_by_grocery_aisles\"><\/span>\n  Duckhorn\u2019s 2020 sales were powered by grocery aisles<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000204175\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p id=\"correction\" class=\"correction\">Duckhorn\u2019s private equity backers sold about 6.7 million shares as part of the IPO, not company executives.<\/p>\n<p> Napa Valley wine executive Alex Ryan isn\u2019t done making a splash with the Duckhorn Portfolio. <\/p>\n<p> After the St. Helena-based company completed a rare (for a winery) initial public offering Thursday, the chief executive said he plans to keep Duckhorn growing, including through potential acquisitions.<\/p>\n<div class=\"paywall\">\n       \u201cHow do you leverage this moment?\u201d Ryan asked, as Duckhorn<br \/>\n        NAPA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/225456824\/composite\" class=\"positive\">+10.59%<\/bg-quote><br \/>\n       shares soared  more than 20% higher in their debut, briefly pushing the wine company\u2019s market capitalization above $2 billion, on their first day of trade on the New York Stock Exchange.<\/p>\n<p>\u201cGrowth will continue to be internal,\u201d Ryan told MarketWatch, but he also said the company will take a \u201cvery diligent and careful\u201d <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to exploring opportunities to add to its existing roster of about a dozen luxury wine brands.<\/p>\n<p>\u201cThere are a lot of great wineries out there,\u201d he said from New York, where Duckhorn shares closed 14.5% higher at $17.18, even as the big three stock indexes fell.  \u201cMaybe some will fit our culture and growth profile.\u201d <\/p>\n<p>The Dow<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-0.71%<\/bg-quote><br \/>\n       edged 0.5% lower Thursday, the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.06%<\/bg-quote><br \/>\n       slumped 1.5% and the Nasdaq Composite Index<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.76%<\/bg-quote><br \/>\n       skidded 3%, amid a sharp selloff in the energy and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> sectors.<\/p>\n<p>In the wine niche, few producers globally now operate as public companies, a sign of how difficult it can be to run an agricultural business under the public spotlight, particularly when success hinges on consumer tastes, favorable weather and coping with increasingly destructive wildfires. <\/p>\n<p>A couple of famous California wine IPOs from prior decades eventually fell flat with investors. More recently, Sonoma\u2019s\u00a0Truett-Hurst Inc.<br \/>\n        THST,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202423453\/composite\" class=\"negative\">-9.99%<\/bg-quote><br \/>\n      \u00a0winery went public eight years ago, but\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.northbaybusinessjournal.com\/article\/industry-news\/healdsburg-wine-company-truett-hurst-to-stop-stock-trading-on-nasdaq\/\" class=\"icon none\">its stock was delisted from the Nasdaq<\/a>\u00a0about two years ago after the company struggled.<\/p>\n<p><strong>Read<\/strong>: Duckhorn IPO: 5 things to know about Napa Valley wine\u2019s first debut in decades<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Ryan said the 45-year-old Duckhorn is different, in part because the company has grown accustomed to answering to private shareholders. <\/p>\n<p>\u201cIt fuels innovation and excitement,\u201d he said.<\/p>\n<p>The company\u2019s private equity backers reaped a nearly $100 million windfall by selling about 6.7 million out of 20 million of the IPO shares, which priced at $15 apiece, or the midpoint of the anticipated range. Another roughly $200 million raised through the IPO will go to pay down debt, Ryan said.<\/p>\n<p>What else might set Duckhorn apart? While many of Napa Valley\u2019s family-run wineries struggled in 2020 due to the pandemic and devastating wildfires, Duckhorn had it is best year ever for sales, hitting $270 million for the fiscal year, thanks in large part to sales in grocery stores.<\/p>\n<p>\u201cIt was a tough year, there\u2019s no questions about it,\u201d Ryan said. \u201cBut we recognized that consumers wanted to buy wine at grocery stores, and we were able to deliver to our customers.\u201d<\/p>\n<p>Duckhorn Vineyards, Decoy and Washington state\u2019s Greenwing are among the company\u2019s brands, with bottles fetching prices from\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1835256\/000119312521075461\/d90982ds1a.htm\" class=\"icon none\">$20 to $200<\/a>.<\/p>\n<p>In terms of what\u2019s next, Ryan said the company has seen bookings for wine-tasting grow this spring as more of the country gets vaccinated. <\/p>\n<p>\u201cWe are really encouraged by what we are seeing,\u201d he said. \u201cPeople are tired of staying at home.\u201d<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Joy Wiltermuth \",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Joy_Wiltermuth\"><\/span>Joy Wiltermuth <span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D31D8F4BC0BD%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Duckhorn eyes potential for more winery acquisitions following IPO &#8221; Duckhorn\u2019s 2020 sales were powered by grocery aisles Duckhorn\u2019s private equity backers sold about 6.7 million shares as part of the IPO, not company executives. Napa Valley wine executive Alex Ryan isn\u2019t done making a splash with the Duckhorn Portfolio. After the St. Helena-based&#8230;<\/p>\n","protected":false},"author":1,"featured_media":207717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-207716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/207716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=207716"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/207716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/207717"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=207716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=207716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=207716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}