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Winery Renews Consulting Deal With Bacchus Capital

Vanessa Doctor

1 November 2010

The Central Coast-based winery Pietra Santa has renewed its consultancy deal with the San Francisco investment firm Bacchus Capital Management.

"Pietra Santa is at a critical point in its evaluation, and our goal is to enhance the momentum of the last few years," said Gayle Dargan, general manager of Pietra Santa.

The US wine industry has evolved over the past years as investors began to favor more alternative assets over bank-related products in the wake of the global financial crisis. According to the Wine Institute, the US wine industry is currently valued at $30 billion. However, Bacchus Capital has warned that global competition could hit the US sector unless it stays ahead of the game.

"As the industry becomes increasingly competitive, there's a growing need for businesses to be creative and to seek out new tools and resources. Distributor consolidation, brand proliferation, growth of direct to consumer marketing and the overall economic climate mandate that businesses work smarter," said Sam Bronfman II, co-founder and managing partner at Bacchus Capital.

Bacchus Capital is an investment and advisory firm that specializes in US wineries and wine businesses.