The Duckhorn Portfolio, which produces and distributes luxury wine in North America, raised $300 million by offering 20 million shares (33% secondary) at $15, within the range of $14 to $16.
Based in Napa Valley, Duckhorn produces and sells a portfolio of luxury wines in all 50 states and over 50 countries at prices ranging from $20 to $200 per bottle, distributing brands that include Duckhorn Vineyards, Decoy, Kosta Browne, Goldeneye, Paraduxx, Calera, Migration, Canvasback, Greenwing and Postmark.
The Duckhorn Portfolio plans to list on the NYSE under the symbol NAPA. J.P. Morgan, Credit Suisse, Jefferies, Barclays, BofA Securities, Citi, Evercore ISI and RBC Capital Markets acted as lead managers on the deal.
