The CEO of a prominent car salvage empire, which started in North Bay, made a substantial offer of $35 million on Friday for two renowned wineries in Napa Valley. These wineries, part of the assets of Vintage Wine Estates, are due for sale in a Bankruptcy Court next month.
Jayson “Jay” Adair, from Dallas and CEO of Adair Winery Inc., placed the multi-million dollar bid for the Clos Pegase and Girard wineries, as per a court filing. His company was one of three leading new bidders targeting assets, including brands and production facilities, of the Santa Rosa-based portfolio that declared Chapter 11 bankruptcy on July 24.
The following are other preliminary bidders from the same day:
— A company from South Carolina, Vino.com LLC, operating under the name Total Beverage Solution, offered $6.03 million for the wine brands Layer Cake, Tamarack, and Cartlidge & Browne.
Total Beverage Solution is planning to acquire 168,764 cases of Layer Cake, Cartlidge & Browne and Tamarack bottled wine, with a value of $6.03 million.
Bartow Ethanol of Florida LLC, a contract distiller, has offered $6.25 million to purchase Meier’s Wine Cellars Inc., a historic and leading winery based in Cincinnati, Ohio.
These proposals come after the court approved two other bids on Tuesday for six additional assets: Ace Cider, Sonoma Coast Vineyards, Cosentino, Swanson, Bar Dog, and Cherry Pie.
A Bankruptcy Court hearing concerning the new offers is scheduled for August 29.
There’s a Sept. 6 deadline for qualified bids to be submitted ahead of a Sept. 17 auction and Sept. 24 hearing to consider the winning bids.
Jeff Quackenbush covers wine, construction and real estate. Reach him at jquackenbush@busjrnl.com or 707-521-4256.
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