In 2023, Pricoa was informed by Antinori’s advisor about the Company’s financial needs and search for a long-term investor ahead of M&A plans. Following the introduction, we established a relationship and started working on capital support plan.
In June 2023, we closed a transaction to support: i) the acquisition of a U.S. based wine company, Stag’s Leap Wine Cellars, ii) the planned capital expenditure, and iii) future acquisition activity. The transaction was part of a larger deal with Italian banks and other financial institutions.
Antinori decided to partner with us given our i) relationship-oriented and pragmatic approach, ii) custom amortization of our notes considering the Company’s expected cash flow generation and bank financing, and iii) possibility of further draws within tight deadlines to finance acquisition activity.
We are proud to call Antinori a partner and we look forward to supporting the business as it continues to execute on its aspirations in the years to come.