Crimson Wine Group Says It Had No Relationship With Silicon Valley Bank

Rhea-AI Summary

Crimson Wine Group (OTCQB: CWGL) announced it has no ties to Silicon Valley Bank, which previously serviced numerous companies in the wine industry. Established in 1991, Crimson Wine Group manages luxury wine brands from boutique wineries across California, Oregon, and Washington. Its portfolio features renowned producers like Pine Ridge Vineyards and Seghesio Family Vineyards, offering direct sales and wholesale distribution in the U.S. and 30 export countries. The company is committed to achieving carbon neutrality by 2050 as a member of the International Wineries for Climate Action.

Positive

• No relationship with Silicon Valley Bank mitigates potential financial risks.
• Strong portfolio of luxury wine brands enhances market position.

Negative

• None.

NAPA, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Crimson Wine Group (OTCQB: CWGL) said today it had no relationship with Silicon Valley Bank, which was known to serve many companies in the wine sector.

About Crimson Wine Group
Crimson Wine Group (OTCQB: CWGL) represents a collection of luxury wine brands from seven estate-based, boutique wineries located in the finest winegrowing regions of California, Oregon and Washington. Established in 1991, Napa Valley-based Crimson Wine Group has assembled a portfolio of highly acclaimed producers, including Pine Ridge Vineyards (Napa, CA), Seghesio Family Vineyards (Healdsburg, CA), Chamisal Vineyards & Malene Winery (San Luis Obispo, CA), Archery Summit (Willamette Valley, OR), Seven Hills Winery (Walla Walla, WA), and Double Canyon (Horse Heaven Hills, WA). All wines are sold Direct to Consumer and Wholesale distribution in the United States along with 30 export countries. Crimson Wine Group is a member of the International Wineries for Climate Action (IWCA) initiative, along with 25 other global wineries, committed to achieving carbon neutrality by 2050. To learn more, please visit www.crimsonwinegroup.com.

Media and Investors, contact:

Roger Pondel
PondelWilkinson Inc.
rpondel@pondel.com
310-279-5965

FAQ

Does Crimson Wine Group have any ties with Silicon Valley Bank?

No, Crimson Wine Group has confirmed it has no relationship with Silicon Valley Bank.

What brands are included in Crimson Wine Group's portfolio?

Crimson Wine Group's portfolio includes Pine Ridge Vineyards, Seghesio Family Vineyards, and several others.

Where does Crimson Wine Group operate?

Crimson Wine Group operates in California, Oregon, and Washington.

What is Crimson Wine Group's carbon neutrality commitment?

Crimson Wine Group is committed to achieving carbon neutrality by 2050 as a member of the International Wineries for Climate Action.

What is the stock symbol for Crimson Wine Group?

The stock symbol for Crimson Wine Group is CWGL.