HUNEEUS FAMILY MAKES A BID ON LEGACY

Bill Price and the Huneeus family announced today that they have made an offer to purchase all of the assets of Legacy Estates out of Bankruptcy protection. Legacy Estates owns the Freemark Abbey winery in Napa Valley, the Arrowood winery in Sonoma and the Byron winery in Santa Maria. It is expected that Agustin Francisco Huneeus (jr.) will lead the new j-v.

Legacy will be kept as an “independent company” according to Bill Price, a founding partner of the Texas Pacific Group.

"We are eager to meet and begin to work with all the Legacy employees. We are impressed with what they have been able to achieve in what is a very difficult and constraining environment. Our first priority will be to re-focus the management and employees of the company from this long and arduous sale process and back to making wine," said Agustin. Any potential job losses remain to be seen.