Market Overview

TSG Partner Company Duckhorn Wine Company Completes Acquisition of Kosta Browne


TSG Consumer Partners ("TSG"), a leading private equity firm focused
exclusively on the branded consumer sector, today announced that its
partner company Duckhorn Wine Company ("DWC"), which includes Duckhorn
Vineyards, Paraduxx, Goldeneye, Migration, Decoy, Canvasback and Calera,
has closed its acquisition of iconic American Pinot Noir winery Kosta

Founded in 1997, Kosta Browne is recognized as one of the wine
industry's great success stories, making some of the New World's most
sought-after Pinot Noirs. The Kosta Browne sale includes the company,
the winery, all assets and inventory, as well as 170 acres of vineyards
through ownership or long-term leases that include Cerise Vineyard in
the Anderson Valley and prized sections of Keefer Ranch Vineyard in the
Russian River Valley and Gap's Crown Vineyard on the Sonoma Coast.

"We have long admired Kosta Browne and its outstanding track record of
producing exceptional Pinot Noirs," said Dan Costello, Managing Director
at TSG. "Kosta Browne is a remarkable business and its commitment to
quality makes it a natural fit for DWC's highly regarded portfolio of

"Building out our esteemed Pinot Noir and Chardonnay collection with the
addition of Kosta Browne will further enhance our visibility and reach
among all wine drinkers," said Alex Ryan, President and CEO of DWC. "We
thank TSG for its ongoing partnership across all aspects of our
business, including its insightful counsel and support on this

"DWC's acquisition of Kosta Browne comes at an exciting time in the
premium beverage sector," said TSG President Jamie O'Hara. "We have been
looking to expand our presence in this dynamic space, as evidenced by
our recent investments in BrewDog and Nuun, adding to our existing
portfolio which includes DWC, Pabst, and SweetWater. We believe Kosta
Browne is the perfect partner for DWC and an ideal fit with our
investment strategy."

Jason Abt, Managing Director at Houlihan Lokey, acted as financial
advisor to DWC. Paul Van Houten and Charles Boer, Partners at Ropes &
Gray LLP, acted as legal advisors.

For more information, please read DWC's

About TSG Consumer Partners

TSG Consumer Partners, LLC is a leading private equity firm focused
exclusively on the branded consumer sector. Since its founding in 1987,
TSG has been an active investor in the food, beverage, restaurant,
beauty, personal care, household, apparel & accessories, and e-commerce
sectors. Representative past and present partner companies include
Duckhorn Wine Company, Planet Fitness, IT Cosmetics, REVOLVE, HUDA
Beauty, BrewDog, Canyon Bicycles, Pabst, Backcountry, vitaminwater,
thinkThin, popchips, Stumptown, Smashbox Cosmetics and e.l.f. Cosmetics.
For more information, visit

About Duckhorn Wine Company

Duckhorn Wine Company has helped set the standard for American fine wine
for four decades. Founded by Dan and Margaret Duckhorn with the launch
of Duckhorn Vineyards in 1976, the Duckhorn portfolio has evolved to
include Goldeneye, Paraduxx, Migration, Decoy, Canvasback and Calera,
each with its own dedicated winemaker. With 700 acres of acclaimed
estate vineyards, along with grapes from the finest growers, each winery
has its own focused winegrowing program. Duckhorn Wine Company wines are
available throughout the United States, on five continents, and in over
50 countries. For more information, visit

About Kosta Browne

Located in Sebastopol, Sonoma County, Kosta Browne is a trusted
authority on California Pinot Noir and Chardonnay. They produce
appellation and single-vineyard wines from the most coveted cool-climate
vineyards across the Russian River Valley, Sonoma Coast, Anderson
Valley, Sta. Rita Hills and Santa Lucia Highlands appellations. A
commitment to quality, stewardship of the land, and customer
relationships have made Kosta Browne an industry-leading producer of
inspiring wines that transcend their origins and represent California on
a global stage. For more information, visit

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