Don Sebastiani & Sons Promotes New President
Mike Holden will take the helm at Don Sebastiani & Sons as president and chief operating officer. Mike will report to the family board of directors, led by executive director, Donny Sebastiani.
“We are thrilled to have the opportunity to have an innovative leader like Mike guide us into the next decade,” said Donny.
Mike’s most recent position was coo at Francis Ford Coppola in charge of the company’s wine, food, restaurant and magazine divisions. He started his career with Diageo in the UK where he spent 14 years with the company. He also spent seven years with Allied Domecq/Jim Beam Company in national and international sales, marketing and strategy roles.
LEGISLATIVE UPDATES IN CALIFORNIA
The staff at Wines & Vines published an informative article about recent bills signed by Gov. Schwarzenegger that directly affects the wine industry. The bills will turn into laws January 1. Five allow wineries and other groups more freedom to pour, sell and promote wine, while two deal with threatening pests.
AB 2004, known as the “winery picnic bill” allows consumers to consume a bottle of wine they’ve purchased at the winery.
AB 2090 makes it legal for winery and grower associations to hold tasting events for education purposes.
AB 2293 allows wineries and spirits manufacturers to provide their products (for free, if they choose) directly to consumers at invitation-only gatherings that have a caterer's permit.
AB 2763, or the Invasive Pest Planning Act of 2008, requires the California Department of Food and Agriculture to create a list of invasive pest species (plants, animals, insects and diseases) and create an eradication program to be carried out should they enter the state.
AB 2765, however, sets limits on the emergency pest eradication steps that may be taken by the Secretary of Food and Agriculture.
AB 3071 allows minors to attend wineries. It contends that a winery is not a public place, and therefore should not prohibit minors.
And finally, SB 157 allows qualified nonprofit groups to hold events where wine is sold together with California wineries. Custom crush producers will be able to donate and pour wine in order to increase brand awareness.
SMALL WASHINGTON WINERIES UNVEIL TWO STATE PROPOSALS
The Family Wineries of Washington State are introducing two proposals to the Washington State Legislature’s Joint Select Committee on Beer and Wine Regulation this fall in attempt to “modernize Washington State’s antiquated wine laws.”
The first proposal, the Washington Wine Law Modernization Act, attempts to remove economic provisions of the liquor laws that benefit “a few special interests” and would apply to both beer and wine. The group said it would also promote economic growth as a state interest, while protecting public safety.
The second proposal, entitled the Craft Winery Development Act, exempts small wineries from the economic provisions of Washington State liquor law. FWWS said it prefers applying the reforms to the entire wine industry, but offered the proposal as a compromise to larger producers and distributors.
To be considered a craft winery, the winery must produce less than 250,000 gallons of wine a year and pay $100 for a license. Under the proposal, a craft winery “may do all things necessary and convenient for the manufacture, distribution and sale of craft wine, subject to compliance with the general antitrust laws and the general commercial laws of sales,” according to the provision. In other words, the winery may acquire a retail, importer and distributor license.
“The legislature has the opportunity to make Washington’s wine laws a model for the entire nation. At no cost to the taxpayer, we can help Washington’s young wine industry and focus the Liquor Board on the public safety issues that are the real concern,” said FWWS Board Member John Morgan. “We urge the Joint Select Committee to recommend one of our proposals to the entire Legislature and the Governor.”
RUSSIAN RIVER VALLEY LIKELY TO EXPAND
It looks like a proposed expansion of the Russian River Valley will eventually pass, much to the chagrin of some Sonoma producers. Naysayers claim the provision hurts the integrity of the Russian River Valley AVA and unfairly benefits E&J Gallo who petitioned the TTB to expand the region from 140,000 acres to almost 170,000. As a result, Gallo’s Two Rock Vineyards will fit within the Russian River Valley. Gallo claims the extended region fits the characteristics of the AVA with regards to climate and soil. First approved in 1983, the Russian River AVA has been expanded twice in recent years. An article in Wine Spectator says wines in the Russian River Valley generally sell for more than $6 a bottle than wines from Sonoma Coast AVA.
CASTLE BRANDS CLOSES PURCHASE AGREEMENT
Castle Brands said today it has closed the previously announced purchase agreement with investors led by Dr. Phillip Frost, the owner of Pallini liqueurs, and Vector Group Ltd., to receive a cash infusion of $15 million. Under the terms, the company issued 1.2 million shares of newly created SeriesA Convertible Preferred Stock for a price per share of $12.50. Each outstanding share of SeriesA Preferred Stock will be automatically converted into 35.7143 shares of common stock.
Mark Andrews, chairman of the board, stated, "We are very glad to have successfully completed this transaction, particularly in such a difficult financial environment. It brings a critically important equity infusion and also eliminates virtually all of our debt. Together, these developments put our company on much firmer footing, which will enable us to pursue our original vision of building our own premium brands, supporting our existing agency brands, pursuing new agency relationships and making brand acquisitions."
To read our coverage last week, click here.
WSD BRIEFS:
MARANI BRANDS STRUCK A DEAL to distribute Marani Vodka in Pennsylvania through Southern Wine & Spirits. Penn. is the second largest control state in the U.S. and eighth largest spirits consumption state in the country.
DIAGEO MAY CONSIDER EXPANDING ITS PLAINFIELD DISTILLERY, according to local papers. Village Board members approved a special-use permit and site plan for a proposed 44,000-square-foot addition to the plant. Spokesperson Zsoka McDonald said the company has begun some preliminary excavation to prepare for the "future site enhancement."
CORRECTION. The tagline for Beam Global’s new Canadian Club ads are still “Damn Right Your DAD Drank It,” and not “Date” as we accidentally wrote yesterday. We apologize for any confusion.
Until tomorrow, Megan
“Illusion is the first of all pleasures.”
Oscar Wilde
--------- Sell Day Calendar ----------
Today's Sell Day: 15
Sell days this month: 23
Sell days this month last year: 23
This month ends on a: Fri.
This month last year ended on a: Wed.
YTD sell days Over/Under: +1
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
“We are thrilled to have the opportunity to have an innovative leader like Mike guide us into the next decade,” said Donny.
Mike’s most recent position was coo at Francis Ford Coppola in charge of the company’s wine, food, restaurant and magazine divisions. He started his career with Diageo in the UK where he spent 14 years with the company. He also spent seven years with Allied Domecq/Jim Beam Company in national and international sales, marketing and strategy roles.
LEGISLATIVE UPDATES IN CALIFORNIA
The staff at Wines & Vines published an informative article about recent bills signed by Gov. Schwarzenegger that directly affects the wine industry. The bills will turn into laws January 1. Five allow wineries and other groups more freedom to pour, sell and promote wine, while two deal with threatening pests.
AB 2004, known as the “winery picnic bill” allows consumers to consume a bottle of wine they’ve purchased at the winery.
AB 2090 makes it legal for winery and grower associations to hold tasting events for education purposes.
AB 2293 allows wineries and spirits manufacturers to provide their products (for free, if they choose) directly to consumers at invitation-only gatherings that have a caterer's permit.
AB 2763, or the Invasive Pest Planning Act of 2008, requires the California Department of Food and Agriculture to create a list of invasive pest species (plants, animals, insects and diseases) and create an eradication program to be carried out should they enter the state.
AB 2765, however, sets limits on the emergency pest eradication steps that may be taken by the Secretary of Food and Agriculture.
AB 3071 allows minors to attend wineries. It contends that a winery is not a public place, and therefore should not prohibit minors.
And finally, SB 157 allows qualified nonprofit groups to hold events where wine is sold together with California wineries. Custom crush producers will be able to donate and pour wine in order to increase brand awareness.
SMALL WASHINGTON WINERIES UNVEIL TWO STATE PROPOSALS
The Family Wineries of Washington State are introducing two proposals to the Washington State Legislature’s Joint Select Committee on Beer and Wine Regulation this fall in attempt to “modernize Washington State’s antiquated wine laws.”
The first proposal, the Washington Wine Law Modernization Act, attempts to remove economic provisions of the liquor laws that benefit “a few special interests” and would apply to both beer and wine. The group said it would also promote economic growth as a state interest, while protecting public safety.
The second proposal, entitled the Craft Winery Development Act, exempts small wineries from the economic provisions of Washington State liquor law. FWWS said it prefers applying the reforms to the entire wine industry, but offered the proposal as a compromise to larger producers and distributors.
To be considered a craft winery, the winery must produce less than 250,000 gallons of wine a year and pay $100 for a license. Under the proposal, a craft winery “may do all things necessary and convenient for the manufacture, distribution and sale of craft wine, subject to compliance with the general antitrust laws and the general commercial laws of sales,” according to the provision. In other words, the winery may acquire a retail, importer and distributor license.
“The legislature has the opportunity to make Washington’s wine laws a model for the entire nation. At no cost to the taxpayer, we can help Washington’s young wine industry and focus the Liquor Board on the public safety issues that are the real concern,” said FWWS Board Member John Morgan. “We urge the Joint Select Committee to recommend one of our proposals to the entire Legislature and the Governor.”
RUSSIAN RIVER VALLEY LIKELY TO EXPAND
It looks like a proposed expansion of the Russian River Valley will eventually pass, much to the chagrin of some Sonoma producers. Naysayers claim the provision hurts the integrity of the Russian River Valley AVA and unfairly benefits E&J Gallo who petitioned the TTB to expand the region from 140,000 acres to almost 170,000. As a result, Gallo’s Two Rock Vineyards will fit within the Russian River Valley. Gallo claims the extended region fits the characteristics of the AVA with regards to climate and soil. First approved in 1983, the Russian River AVA has been expanded twice in recent years. An article in Wine Spectator says wines in the Russian River Valley generally sell for more than $6 a bottle than wines from Sonoma Coast AVA.
CASTLE BRANDS CLOSES PURCHASE AGREEMENT
Castle Brands said today it has closed the previously announced purchase agreement with investors led by Dr. Phillip Frost, the owner of Pallini liqueurs, and Vector Group Ltd., to receive a cash infusion of $15 million. Under the terms, the company issued 1.2 million shares of newly created SeriesA Convertible Preferred Stock for a price per share of $12.50. Each outstanding share of SeriesA Preferred Stock will be automatically converted into 35.7143 shares of common stock.
Mark Andrews, chairman of the board, stated, "We are very glad to have successfully completed this transaction, particularly in such a difficult financial environment. It brings a critically important equity infusion and also eliminates virtually all of our debt. Together, these developments put our company on much firmer footing, which will enable us to pursue our original vision of building our own premium brands, supporting our existing agency brands, pursuing new agency relationships and making brand acquisitions."
To read our coverage last week, click here.
WSD BRIEFS:
MARANI BRANDS STRUCK A DEAL to distribute Marani Vodka in Pennsylvania through Southern Wine & Spirits. Penn. is the second largest control state in the U.S. and eighth largest spirits consumption state in the country.
DIAGEO MAY CONSIDER EXPANDING ITS PLAINFIELD DISTILLERY, according to local papers. Village Board members approved a special-use permit and site plan for a proposed 44,000-square-foot addition to the plant. Spokesperson Zsoka McDonald said the company has begun some preliminary excavation to prepare for the "future site enhancement."
CORRECTION. The tagline for Beam Global’s new Canadian Club ads are still “Damn Right Your DAD Drank It,” and not “Date” as we accidentally wrote yesterday. We apologize for any confusion.
Until tomorrow, Megan
“Illusion is the first of all pleasures.”
Oscar Wilde
--------- Sell Day Calendar ----------
Today's Sell Day: 15
Sell days this month: 23
Sell days this month last year: 23
This month ends on a: Fri.
This month last year ended on a: Wed.
YTD sell days Over/Under: +1
WINE & SPIRITS DAILY
Subscribe or check back issues at: www.winespiritsdaily.com
Send news and comments in confidence to: megan@winespiritsdaily.com
© 2008 Wine & Spirits Daily, all rights reserved. May quote with attribution.
posted at 1:38 PM
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