Butterfly Equity, a private equity firm based in Los Angeles, announced Monday its plans to acquire and take private The Duckhorn Portfolio, a luxury wine maker, in an all-cash deal valued at approximately $1.95 billion. The deal, advised by Kirkland & Ellis LLP for Butterfly and Ropes & Gray LLP for Duckhorn, is expected to close this winter.
Under the terms of the agreement, Duckhorn Portfolio shareholders will receive $11.10 per share in cash, representing a 65.3% premium to Duckhorn’s average share price over the 90 days ending last Friday. Once the transaction is finalized, Duckhorn will delist from the New York Stock Exchange.
butterfly equity to buy duckhorn portfolio : Enhanced Resources for Growth
Deirdre Mahlan, president, CEO, and chairperson of The Duckhorn Portfolio, expressed optimism about the acquisition: “Through our partnership with Butterfly, we expect The Duckhorn Portfolio will have enhanced resources to build on our strong foundation and further scale our operations.”
