Benziger Sold to The Wine Group: Sonoma Valley stalwart Benziger Family Winery has been purchased by The Wine Group, according to an article in the Santa Rosa Press-Democrat. Benziger produces nearly 140,000 cases of wine annually, according to the report, but will now join the third largest wine conglomerate. Price estimates for the acquisition range from less than $90 million to more than $100 million, according to the article. Interestingly, The Wine Group is best known for its value wines while Benziger specializes in premium and super-premium wines, along with a commitment to bio-dynamic farming in its vineyards. We’ll see how this works out.
3G Eyeing Diageo Takeover Bid?: Rumors continue to swirl that 3G Capital is intending to make a bid for beverage giant Diageo, according to this report. News of a possible deal evidently originated from a magazine in Brazil, prompting a jump in Diageo’s stock price. The man behind 3G, Jorge Paulo Lemann, has made several bets on food and beverage companies in recent years.
Wait…How Much Did you Pay for that Wine?: The annual Auction Napa Valley to benefit local charities raised $15.8 million recently, down from 2014’s $18.3 million. One bid, however, was a record – the $2.4 million paid for a single live auction lot from Opus One that includes wine as well as travel, according to this report in Wines and Vines magazine.
Small Harvest to Blame for Prosecco Shortage?: There’s concern among producers of that lovely bubbly alternative Prosecco that there could be a shortage due to a smaller than expected harvest in 2014, according to this report. Consumption has evidently skyrocketed in export markets such as the U.S., the Shanken News Daily blog reported. You’ve been warned!