Business Services Industry
Robert Mondavi Corp. to sell off Napa Valley winery, interest in luxury brand.
Knight Ridder/Tribune Business News, September, 2004
By Reed Fujii, The Record, Stockton, Calif. Knight Ridder/Tribune Business News
Sep. 16--Robert Mondavi Corp., in a dramatic bid to improve its fortunes, will shed its luxury wine brands and focus exclusively on its mass-market premium wines, such as Woodbridge, which is produced at Woodbridge Winery outside Lodi.
Assets to be sold include the flagship Robert Mondavi Winery in the Napa Valley as well as the company's interest in the renowned Opus One luxury brand. The company also announced Tuesday night that R. Michael Mondavi resigned as the company's vice chairman, but will remain a member of the board.
The restructuring is expected to cost the company up to $200 million in one-time charges, but proceeds from the sale of its luxury...
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