Argentina's Terold Group acquired a majority stake in WX Brands on 30 July. Terold is owned by the Bemberg family, which also owns Argentine wine giant Grupo Peñaflor (Trapiche, Finca las Moras).
WX Brands is based in Novato, California, about 30 km north of San Francisco. Founded in 1999, the company produces branded wines (Bread & Butter, Jelly Jar) and sells nearly 4 million bottles cases of wine annually.
As reported by North Bay Business Journal, WX Brands is to be managed independently from other wine investments of the Bemberg family and business as usual is expected to continue. "We have known and respected the Bemberg Family Group and Peñaflor for two decades. This partnership is a tremendous sign of confidence in the WX Brands team and will accelerate growth as well as success for both parties," said Peter Byck, CEO of WX Brands. cg