Crimson Wine Group, Ltd completed an acquisition involving Purple Wine Company, LLC for approximately $35.2 million (closed 2026-02-09).
“and certain consumer and customer lists, and assumed certain liabilities of Seller in connection with the acquired assets. The purchase price for the assets was approximately $35.2 million. The acquisition of the assets under the Asset Purchase Agreement was funded with cash on hand and borrowings under the Company’s existing revolving credit facility. The Asset”
Jennifer L. Locke was appointed as Director at Crimson Wine Group, Ltd.
“On October 30, 2024, the Board of Directors (the “Board”) of Crimson Wine Group, Ltd. (the “Company”) increased the size of the Board from seven to eight members and appointed Jennifer L. Locke, the Company’s Chief Executive Officer, to fill the vacancy for a term expiring at the 2025 annual meeting of stockholders of the Company.”
Cybersecurity Incidents
Crimson Wine Group, Ltd disclosed a cybersecurity incident: Unauthorized third party gained access to certain information systems and exfiltrated files potentially containing sensitive personal information. Impact: Likely had a material impact on business operations, causing disruption and system shutdowns; financial condition and results of operations not materially impacted. Company determined it material. Discovered 2024-06-30.
“the Company determined that the cybersecurity incident has likely had a material impact on the Company’s business operations.”
Adam D. Howell was appointed as Chief Financial Officer at Crimson Wine Group, Ltd.
“On December 4, 2023, Crimson Wine Group, Ltd. (the “Company”) announced the appointment of Adam D. Howell as Chief Financial Officer and principal accounting officer of the Company, effective December 12, 2023 (the “Effective Date”).”
Kimberly Benson resigned as interim Chief Financial Officer and interim principal accounting officer at Crimson Wine Group, Ltd.
“On October 4, 2023, Kimberly Benson, the interim Chief Financial Officer and interim principal accounting officer of Crimson Wine Group, Ltd. (the “Company”), notified the Company that she is resigning from her position in order to pursue another business opportunity.”
Shareholder Votes
Crimson Wine Group, Ltd shareholders rejected Approval of the Charter Amendment Proposal at the 2023-07-28 meeting.
“The Charter Amendment Proposal was not approved, and the voting results are set forth below: Votes For: 10,669,959 Votes Against: 4,570,681 Votes Abstained: 698,226 Broker Non-Votes: 3,662,909”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Advisory resolution approving the compensation of the Company's named executive officers at the 2023-07-28 meeting.
“The advisory resolution on say-on-pay was approved, and the voting results are set forth below: Votes For: 14,840,432 Votes Against: 1,079,508 Votes Abstained: 18,945 Broker Non-Votes: 3,662,890”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Ratification of BPM LLP as independent registered public accounting firm of the Company for the year ending December 31, 2023 at the 2023-07-28 meeting.
“Ratification of BPM LLP as independent registered public accounting firm of the Company for the year ending December 31, 2023. The ratification of BPM LLP was approved, and the voting results are set forth below: Votes For: 18,761,901 Votes Against: 7,280 Votes Abstained: 832,594”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Election of seven nominees for director at the 2023-07-28 meeting.
“Each of the seven nominees for director was elected, and the voting results are set forth below: Nominee Votes For Number of Shares Withheld Broker Non-Votes John D. Cumming 14,995,863 943,022 3,662,890 Annette D. Alvarez-Peters 15,174,429 764,456 3,662,890 Douglas M. Carlson 14,036,126 1,902,759 3,662,890 Avraham M. Neikrug 14,181,004 1,757,881 3,662,890 Colby A. Rollins 14,020,470 1,918,415 3,662,890 Joseph S. Steinberg 14,998,263 940,622 3,662,890 Luanne D. Tierney 14,182,015 1,756,870 3,662,890”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Approval of the Charter Amendment.
“The Charter Amendment was approved, and the voting results are set forth below: Votes For: 10,669,959 Votes Against: 4,570,681 Votes Abstained: 698,226 Broker Non-Votes: 3,662,909”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Approval of the compensation of the Company’s named executive officers (say-on-pay).
“The advisory resolution on say-on-pay was approved, and the voting results are set forth below: Votes For: 14,840,432 Votes Against: 1,079,508 Votes Abstained: 18,945 Broker Non-Votes: 3,662,890”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Ratification of BPM LLP as independent registered public accounting firm of the Company for the year ending December 31, 2023.
“The ratification of BPM LLP was approved, and the voting results are set forth below: Votes For: 18,761,901 Votes Against: 7,280 Votes Abstained: 832,594”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Election of Directors.
“Each of the seven nominees for director was elected, and the voting results are set forth below: Nominee Votes For Number of Shares Withheld Broker Non-Votes John D. Cumming 14,995,863 943,022 3,662,890 Annette D. Alvarez-Peters 15,174,429 764,456 3,662,890 Douglas M. Carlson 14,036,126 1,902,759 3,662,890 Avraham M. Neikrug 14,181,004 1,757,881 3,662,890 Colby A. Rollins 14,020,470 1,918,415 3,662,890 Joseph S. Steinberg 14,998,263 940,622 3,662,890 Luanne D. Tierney 14,182,015 1,756,870 3,662,890”
Karen Diepholz departed as Chief Financial Officer at Crimson Wine Group, Ltd.
“In connection with the departure of Karen Diepholz from her position as Chief Financial Officer and principal accounting officer of Crimson Wine Group, Ltd. (the "Company"), effective July 19, 2023”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Approval of the Charter Amendment at the 2023-07-28 meeting.
“4. Approval of the Charter Amendment”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Advisory resolution approving the compensation of the Company's named executive officers (say-on-pay) at the 2023-07-28 meeting.
“3. Approval of the advisory resolution approving the compensation of the Company’s named executive officers (“say-on-pay”)”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Ratification of BPM LLP as independent registered public accounting firm of the Company for the year ending December 31, 2023 at the 2023-07-28 meeting.
“2. Ratification of BPM LLP as independent registered public accounting firm of the Company for the year ending December 31, 2023”
Shareholder Votes
Crimson Wine Group, Ltd shareholders approved Election of Directors at the 2023-07-28 meeting.
“1. Election of Directors Each of the seven nominees for director was elected”
Kimberly Benson was appointed as Chief Financial Officer at Crimson Wine Group, Ltd.
“the Board of Directors of the Company (the “Board”) appointed Kimberly Benson as interim Chief Financial Officer and interim principal accounting officer of the Company, effective as of July 19, 2023.”
Karen Diepholz resigned as Chief Financial Officer at Crimson Wine Group, Ltd.
“Karen Diepholz, the Company’s Chief Financial Officer and principal accounting officer, resigned from her position with the Company on July 19, 2023, effective immediately.”
Debt Financings
Crimson Wine Group, Ltd amended credit facility with American AgCredit, FLCA at replaces LIBOR with SOFR maturing May 31, 2028.
“On June 15, 2023 (the “Effective Date”), Crimson Wine Group, Ltd., Pine Ridge Winery, LLC, Chamisal Vineyards, LLC, and Double Canyon Vineyards, LLC (the foregoing, collectively “Borrowers”) entered into the Fifth Amendment to Credit Agreement (the “Fifth Amendment”) with American AgCredit, FLCA (the “Lender”), which amends that certain Credit Agreement”
Material Agreements
Crimson Wine Group, Ltd amended Fifth Amendment to Credit Agreement with American AgCredit, FLCA (effective 2023-06-15).
“On June 15, 2023 (the “Effective Date”), Crimson Wine Group, Ltd., Pine Ridge Winery, LLC, Chamisal Vineyards, LLC, and Double Canyon Vineyards, LLC (the foregoing, collectively “Borrowers”) entered into the Fifth Amendment to Credit Agreement (the “Fifth Amendment”) with American AgCredit, FLCA (the “Lender”)”
Material Agreements
Crimson Wine Group, Ltd amended Fourth Amendment to Credit Agreement with American AgCredit, FLCA (effective 2023-05-31).
“On May 31, 2023, Crimson Wine Group, Ltd., Pine Ridge Winery, LLC, Chamisal Vineyards, LLC, and Double Canyon Vineyards, LLC (the foregoing, collectively “Borrowers”) entered into the Fourth Amendment to Credit Agreement (the “Fourth Amendment”) with American AgCredit, FLCA (the “Lender”), which amends that certain Credit Agreement dated March 22, 2013 among Borrowers and Lender (as previously amended, the “Credit Agreement”), in order to, among other things, extend the Revolving Loan Termination Date (as defined in the Credit Agreement) to June 30, 2023, extend the Term Revolving Loan Conversion Date (as defined in the Credit Agreement) to June 30, 2023, and extend the Term Revolving Loan Termination Date (as defined in the Credit Agreement) to June 30, 2023.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.