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Butterfly Equity acquires luxury wine brand Duckhorn Portfolio for $1.95B in an all-cash deal.
Butterfly Equity, a private equity firm in Los Angeles, will acquire luxury wine brand Duckhorn Portfolio for $1.95 billion in an all-cash transaction.
The deal, announced on Monday, offers $11.10 per share, a 65.3% premium over Duckhorn's recent trading average.
Following the acquisition, Duckhorn will become privately held and continue to operate its 11 winery brands.
A 45-day "go-shop" period is part of the agreement, allowing Duckhorn to consider other offers.
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Butterfly Equity adquiere la marca de vino de lujo Duckhorn Portfolio por $1.95B en un acuerdo all-cash.