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Case study
Jamieson Ranch
Jamieson Ranch , California
CohnReznick Capital advised a Caymans Island based Liquidating Trustee on an out-of-court expedited sale for Jamieson Ranch Vineyards.
Surrounded by hundreds of acres of hills and vineyards, Jamieson Ranch is the southernmost winery in Napa Valley.With the use of “flash détente”, the winery upholds its reputation for producing several award-winning Pinot Noirs, Cabernet Sauvignons, and Chardonnays.Brands include Light Horse, Double Lariat, Stagecoach, Silver Spur, Whiplash, and Reata Pinot Noir.
The client challenge
Sale of assets: The assets were sold in two blocks – the real estate portion, and the ongoing business, including inventory and intellectual property. Total proceeds exceeded $22.0 million.
Challenges during the sale: Weeks after the launch of the sale, some 69 acres of vineyards were pulled from the ground by an unscrupulous private equity owner, unbeknownst to CRC. CRC also uncovered self-dealings and material non-disclosures. The private sponsor had also failed to make tax payments and keep licenses current.
Joint sales: The expedited sale was a joint effort with Nexia TRI group, under the instruction of insolvency practice, RHSW Caribbean.
The Nexia solution
CohnReznick capital advisory role provided strategic advice and valuation expertise, resulting in a successful sale and optimal returns for investors. This was monitored by the marketing process and kept Limited Partners in the information flow. CohnReznick advised on litigation against the private sponsor, resulting in their termination and eventual settlement of litigation.
