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Friday, November 1, 2013

Beringer Winery up for sale?

More bad news possibly for Treasury Wine Estates, the corporation owning over 50 wine brands around the world (the majority in Australia & New Zealand). Their CEO was canned recently for dumping bad wine. Blog entry from Sept. Something seemed a little wacky about that whole story.

Now their arguably most prestigious holding, Beringer Winery in Napa Valley, may be on the blocks. Apparently they paid too much for Beringer in 2000 and their bank would like them to dump it for some cash. And Beringer would definitely bring in some bucks. It's been around since 1875, they are one of the most visited wineries in Napa Valley, Beringer makes a lot of wine, something like eight million cases annually, and are found on pretty much every wine list in the country.

A Napa Valley landmark for a very long time
Image from beringer.com

At this time info is pretty sketchy on what all is going on within the corporate walls at Treasury, but you can bet it ain't all good. Anyway, if this comes to fruition then remember you heard it here first! If not, forget about where you read the bad rumor.   :)