Jack Cakebread, 92, Cakebread Cellars Founder,Dies

Posted on May 2, 2022 by Joel Whitaker

He founded Cakebread Cellars with his wife Dolores while working as a partner in an auto repair shop and moonlighting as a photographer.  Today Cakebread Cellars is considered one of Napa Valley’s great, classic estates, renowned for its Cabernet Sauvignon and Chardonnay wines.

Cakebread was no ordinary photographer: he had studied with Ansel Adams.  His landscape photography had been displayed in the San Francisco Museum of Modern Art.  His photography skills led to him photographing winemakers, including Robert Mondavi and Joe Heitz, for Nathan Chroman’s book, “A Treasury of Modern Wine.”

He became enchanted with wine, and one day after a shoot at Beringer and Christian Brothers wineries, he stopped to visit his mother’s best friend from grade school who owned Sturdivant Ranch.  He mentioned in passing that if the property was ever for sale, he’d be interested.  Two hours later he got the call, agreed to a $2,500 down payment and a payment plan.

The rest is history.  The first vintage was released in 1973, and after a slow start accelerated when Bruce Cakebread after graduating from UC Davis with a degree in viticulture and enology, became winemaker and Jack Cakebread graduated from UC Berkeley and the executive program at Stanford University’s Graduate School of Business.  In 1987, the family launched the American Harvest Workshop featuring prominent chefs and food purveyors. It was one of the first wine and food experiences.

Posted in Obituaries | Tagged | Comments Off on Jack Cakebread, 92, Cakebread Cellars Founder,Dies

Who & What —

Posted on May 2, 2022 by Joel Whitaker

Anheuser-Busch rehires James “Jamie” Mathis, who had been chair of the Husch Blackwell law firm’s alcoholic beverage practice.  He succeeds Thomas Larson, who led a team responsible for U.S. transactional legal matters.  Larson is now vp-corporate for parent Anheuser-Busch InBev. Mathis previously was an associate general counsel at A-B between 2004 and 2010. Both Mathis and Larson are based in St. Louis.

Posted in Who and What | Comments Off on Who & What —

Shop Talk at -30-

Posted on May 2, 2022 by Joel Whitaker

How it became normal for public officials to attack journalists

A California sheriff’s targeting of a reporter is the latest instance of authorities misusing power. ‘These are steps toward autocracy,’ says one press freedom advocate.

NOTE:  -30- is the symbol reporters put at the end of a story to let the copy desk know that’s all the story contains. We use it as part of the heading of this department, which contains stories about the press and its role in ensuring the public knows what their government is doing.

Posted in Uncategorized | Comments Off on Shop Talk at -30-

Imports Lead NBWA Beer Purchasers Index Improvement

Posted on May 2, 2022 by Joel Whitaker

National Beer Wholesalers Association‘s Beer Purchasers Index showed improvement last month, led by imports which were strongly in expansion territory with a reading of 70, only slightly below the year-earlier reading of 74.  Premium lights also signalled expansion with a reading of 52, but that was below April 2021’s reading of 69.  (Any reading of 50 or higher signals expansion.)

That was all the good news in the latest report.

  • The craft index at 48 is significantly below last April’s reading of 64.
  • The premium regular segment index is at 38, which is significantly below the April 2021 reading of 56.
  • The below premium segment is at 37, well below the April 2021 reading of 51.
  • The FMB/seltzer category took another big hit, falling to 40 in April 2022 from the April 2021 reading of 90.
  • Finally, the cider segment remains below 50 with a reading of 33 in April 2022, compared to the April 2021 reading of 44.

NBWA noted that for the fourth month in a row, the beer industry continues to revert to pre-pandemic trends. The April 2022 BPI has a “total beer” reading of 55 and an “at-risk” inventory reading of 47. This combination of readings is an improvement over the first three months (Q1) with “at-risk” inventories falling below 50 as the industry heads into the second quarter.

Posted in Research | Tagged , | Comments Off on Imports Lead NBWA Beer Purchasers Index Improvement

CBrands Prices $1.85 Billion Senior Notes Offering

Posted on May 2, 2022 by Joel Whitaker

Constellation Brands, Inc. said it priced the public offering of $1.85 billion aggregate principal amount of Senior Notes, consisting of (i) $550.0 million of 3.60% Senior Notes due 2024 (the “2024 notes”) for a public offering price of 99.941% of the principal amount of the 2024 notes, (ii) $600.0 million of 4.35% Senior Notes due 2027 (the “2027 notes”) for a public offering price of 99.942% of the principal amount of the 2027 notes, and (iii) $700.0 million of 4.75% Senior Notes due 2032 (the “2032 notes”) for a public offering price of 99.638% of the principal amount of the 2032 notes (the 2024 notes, the 2027 notes, and the 2032 notes, collectively, the “notes”). The notes will be senior obligations that rank equally with all of Constellation’s other senior unsecured indebtedness.

Closing of the offering is expected to occur on May 9, 2022. Net proceeds will be used to fund the concurrent series of cash tender offers for any and all of its outstanding (i) 3.20% Senior Notes due 2023 (the “3.20% notes”), of which $600.0 million aggregate principal amount is outstanding, and (ii) 4.25% Senior Notes due 2023 (together with the 3.20% notes, the “2023 notes”), of which $1,050.0 million aggregate principal amount is outstanding, and redeem prior to maturity any amounts of the 2023 notes remaining outstanding following the consummation of the tender offers.  If the tender offers and the 2023 notes redemptions are not consummated, or the net proceeds from the offering are otherwise more than the amount needed to fund the tender offers and the 2023 notes redemptions, Constellation intends to use the net proceeds from the offering for general corporate purposes, including working capital, funding capital expenditures, retirement of debt, and other business opportunities.

BofA Securities, Inc., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC are acting as the joint book-running managers of the offering.

Posted in Finance | Tagged | Comments Off on CBrands Prices $1.85 Billion Senior Notes Offering

Molson Coors Adds Arnold Palmer Spiked Lite

Posted on April 29, 2022 by Joel Whitaker

Arnold Palmer Spike Light is produced by Molson Coors Beverage Co. in partnership with AriZona.  It’s a version of Arnold Palmer Spiked Half & Half, which was introduced in 2018.

“When we launched Arnold Palmer Spiked nearly four years ago, we introduced drinkers to a spiked version of the classic Arnold Palmer taste and it instantly became a fan favorite,” said Joy Ghosh, vp-above premium beer & FMB at Molson Coors. “Now with the launch of Arnold Palmer Spiked Lite and in the true spirit of living a life well played, we are giving fans of the brand a lower-calorie option that doesn’t compromise on the classic Arnold Palmer Spiked flavor they already know and love.”

Available in sleek 12 oz slim cans, Arnold Palmer Spiked Lite will be available in 12-packs or as a 24oz single-can, making it the ideal, easy-drinking option for any summer occasion. Beginning in May, fans of the brand can purchase Arnold Palmer Spiked Lite in 16 states.

Posted in New Products | Tagged , | Comments Off on Molson Coors Adds Arnold Palmer Spiked Lite