Sonoma’s Truett-Hurst Raising Funds in IPO, Wine Spectator Says
Sonoma County wine company Truett-Hurst is planning to raise a net $26.5 million through an initial public offering of stock, Wine Spectator reported.
The company, which owns Sonoma brands Truett-Hurst, VML, Healdsburg Ranches and Bradford Mountain and bottles private labels for Trader Joe’s Co., Total Wine & More and Safeway Inc. (SWY), more than doubled sales last year to $12.7 million from $5.4 million in 2011, Wine Spectator said. Partners Phil Hurst, Paul and Heath Dolan and Bill Hambrecht, founder of W.R. Hambrecht + Co., are behind the offering, according to Wine Spectator.
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