Below is a brief excerpt from a complimentary research note written by our Consumables analysts Howard Penney and Daniel Biolsi. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more.
Napa County, California, is nearing a revision from red to orange on its COVID-19 rating scale. Orange would allow wineries to hold indoor tastings.
According to the county public health officer, if the county can meet the criteria for the next two weeks, it could move to orange on March 30. Napa County will also begin to accept applications for temporary event permits for live events, which would bring more people back to the region.
Both Duckhorn (NAPA) and Vintage Wine Estates navigated the pandemic with sales growth, but the return of consumers to their tasting rooms will bring back high margin sales in 2021.
Duckhorn is set to be a public company imminently. The Bespoke Acquisition Corp. (BSPE) merger is expected to close in May. Duckhorn's targeted valuation is 50% higher than BSPE's valuation.
We are hosting the management team of Bespoke Acquisition Corp. and Vintage Wine Estates in a fireside chat on Tuesday, March 23rd at 2 PM. To gain access sign up HERE.