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Pine Ridge Winery, LLC Announces End of Process to Sell California and Oregon Wineries
Business Wire, March 23, 2001
Business Editors
NAPA VALLEY, Calif.--(BUSINESS WIRE)--March 23, 2001
Pine Ridge Winery, LLC today announced that it has ended its efforts to sell Pine Ridge Winery, Napa Valley, California and its sister winery, Archery Summit, located in the Willamette Valley, Oregon.
Pine Ridge had previously announced that it had retained the investment banking firm of Credit Suisse First Boston to assist in selling the wineries. Although the Company received offers from prospective buyers, none of the offers was commensurate with the Company's view of the value and potential of the wineries.
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Founded in 1978 by Gary and Nancy Andrus, Pine Ridge produces ultra premium, estate bottled wines from the Stags Leap, Carneros, Rutherford and Howell Mt. appellations in the Napa Valley and Pinot Noir and Pinot Gris in the Willamette Valley. The wines are produced in two state of the art facilities and are sold internationally.
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