Bacchus Capital Management LLC said it’s expanding its wine holdings through the investment of capital in Woodinville, Washington-based DeLille Cellars and the acquisition of Oregon winery Panther Creek Cellars.
DeLille is a winery founded in 1992 with a 20-acre (8-hectare) vineyard in Washington’s Red Mountain region and other sites in the Yakima Valley, according to a statement on the website of Bacchus, a San Francisco-based private equity firm. Panther Creek is based in Oregon’s Willamette Valley.
The moves come as demand from wine collectors and investors has contributed to a rally in prices this year on the Liv-ex Fine Wine 50 Index. The index, while slipping back since late March after posting four straight monthly gains, is still up 5 percent so far in 2013.
“We invest in businesses and winemakers we believe in,” Peter Kaufman, Bacchus co-founder and managing partner, said in the statement. “For DeLille Cellars, we have provided growth capital and in Panther’s case, it’s an outright acquisition.”
DeLille makes Bordeaux-style wines, along with other reds similar to those of the Rhone Valley and other parts of southern France, under winemaker Chris Upchurch, according to the statement. Panther Creek produces Pinot Noir, Pinot Gris and Chardonnay wines.