Henberger Sells "Jan Kris Winery" Winery and Vineyard Assets
San Diego CA, July 21, 2008 – Bragevan Corporation of Paso Robles, California has acquired the Winery and Vineyard Assets of JanKris Winery located at 1266 E. Bethel Road Templeton CA.
Henberger created the marketing plan, initiated the transaction, led the “stalking horse” negotiations, and acted as the transaction advisor to JanKris Winery.
JanKris Winery had been in Chapter 11 Bankruptcy since December 2005. Mid 2007 Henberger was contracted by JanKris Winery which was approved by the bankruptcy court. Henberger developed and implemented a marketing plan for the sale of some or all of the assets. Time was of the essence.
The plan was put into place and multiple bidders were identified. A “stalking horse” letter of intent was signed for the sale of the Bethel Road assets and due diligence commenced. The stalking horse and other bidders met in court and the assets were sold in a court auction on February 26th to Bragevan Corporation for just under $4.5 Million.
The assets included a property located just off Highway 46 West consisting of 54 total acres with 48 planted, the tasting room, winery, barn, guest house and the residence as well as winery equipment and machinery. The sale in court did not include the other property or the business operations of JanKris Winery.
The key component to the successful sale of JanKris was the marketing plan. Henberger created this plan like any of its wine industry engagements. Research is conducted and potential buyers are identified. Attractive detailed confidential selling documents are designed based on the marketing strategies and provided to prospective buyers. The end goal is to identify multiple interested buyers competing with each other, so that the seller has options and can select the buyer with the best deal terms, not necessarily the highest price. According to the buyer this was the case with JanKris as stated in a recent article in the San Luis Obispo Tribune.*
In related activities Henberger also recently completed the preparation and sale of Mastantuono Winery to Donati Family Vineyards.
About Bragevan
Bragevan is an investment company owned by Matt Talbert. Matt is a turn-around specialist who has managed businesses in industries such as jewelry, aviation acoustics, magazine publishing and financial strategies for developing nations. Wine has been Matt’s lifelong passion and he is planning to leverage his skills to turn Jan Kris around.*
About Jan Kris
JanKris Winery & Vineyards is located on the west side of the Paso Robles appellation in the area called "The Templeton Gap." Established in 1990 by Mark and Paula Gendron, daughters January and Kristin are the company's namesakes.
About Henberger
Henberger (www.henberger.com) is a Mergers & Acquisitions Advisory Firm providing private business owners with business transition to transaction solutions. The firm focuses on lower middle market businesses and has developed a specialty in wineries. The firm’s advisors work closely with the client and their professional advisors to develop and implement an exit strategy that enhances business value. The firm’s goal is to maximize client wealth through a successful transaction. The firm is headquartered in San Diego, California.
Contact
John C. Henberger, Jr.
760.635.1199 direct
858.345.4435
Press Release - July 21, 2008
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