A wine lists in London
A company with $7 million a year in sales decides to have an IPO. Is this an internet start-up? No, it’s the Napa winery Consentino Signature Wines, which will list its shares on London’s Alternative Investment Market in the coming weeks according to Decanter.
Chairman Larry Soldinger hopes to raise $30 million at the IPO, which would give the company a $60 million valuation. Soldinger claims the regulatory burdens of Sarbanes-Oxley in the US make London a better place to raise capital and float the shares. Hopefully he’ll bring some wine when he rings the bell in London. Consentino wines aren’t currently even available in the UK market.
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Further items about the business and politics of wine (and food):
Constellation Brands goes hostile in their bid for Canada’s Vincor offering C$31 a share. Vincor pauses to think it over. Vincor’s shares traded yesterday at C$34.43.
You add water! You add sugar! The EU and the US continue to air their differences about wine making during trade talks.
Wine tourism? Mais oui. Tobacco tourism? Mais non!
Add your $48,231 worth. That’s what Michigan wholesalers added to the still unresolved question on opening the state to direct wine shipments.
Whole Foods Market emphasizes freshness, but is the business model perishable?
