Duckhorn Portfolio, a prominent California winery, has been acquired for $1.95 billion by Butterfly Equity, making it a privately held company once again.
Duckhorn, founded in 1976, grew from a small winery to a renowned brand, experiencing several ownership changes and becoming publicly traded in 2021.
The successful IPO stands out since most wine brands avoid public offerings due to historical challenges like the hostile takeover faced by Robert Mondavi.
Butterfly Equity's acquisition of the Duckhorn Portfolio includes 11 winery brands and is subject to a 45-day period for potential alternative offers.
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