Crimson Wine Group, Ltd. announces an Equity Buyback for 2,000,000 shares.
March 17, 2023 at 08:16 am EDT
Share
Crimson Wine Group, Ltd. (OTCPK:CWGL) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares of the Company?s common stock. Any repurchases will be funded with available cash.
Any repurchased shares will be constructively retired.
Crimson Wine Group, Ltd. owns and operates a collection of luxury wine brands from seven estate-based, boutique wineries located in the finest wine-growing regions of California, Oregon and Washington. It has two segments: Wholesale and Direct to Consumer. Wholesale segment includes sales through a third party where prices are given at a wholesale rate. Direct to Consumer segment includes retail sales in the tasting room, remote sites and on-site events, wine club net sales, direct phone sales, and other sales made directly to the consumer without the use of an intermediary. It, through its wholly owned subsidiaries, owns seven primary wine estates and brands: Pine Ridge Vineyards, Archery Summit, Chamisal Vineyards, Seghesio Family Vineyards, Double Canyon, Seven Hills Winery and Malene Wines. Chamisal Vineyards owns 92 acres of vineyards in the Edna Valley, California, of which 52 acres are planted. Archery Summit owns 92 acres of estate vineyards in the Willamette Valley, Oregon.
CRIMSON WINE GROUP, LTD. 
