At this point this is all very much hearsay, but I spoke to a source today who said that the sale of Cap*Rock winery to Gruet that had been reported earlier on this blog is in jeopardy. Again, this has not been substantiated yet.
For now I don't really have anything concrete on this, but I will be looking into it further. I'm hoping that this rumor is false. I will post new information as it arises.
Update - I continue to hear rumors from various sources that there is a problem with the Cap*Rock sale, but have yet to get anything definite on the subject. Until we hear something from the lawyers involved, or a press conference or press release is supplied, this can only be categorized as a rumor. I know that there have been several requests for information made to principles, and as soon as I hear the results of those requests I will pass on the information.
Update – Just to keep you guys in the loop. I am working with sources to get some information that I can run with. It does look like something is going on, but exactly where the deal stands seems to be an outstanding question. I don't have anything that I feel comfortable reporting yet, but hope to have more news later today (7/26) or by tomorrow AM (7/27).
Update – This is now a confirmed story. There was a press conference on 7/27 that announced that the deal was dead, and that a new auction would take place. For details, see here.
I’m hoping they can get this deal done. This would be another big win for Texas wine. Cheers!
Your tweet says “reported” Unless you (or anyone else) can substantiate that “report” with facts, it’s still a “rumor”.
I have heard the rumor of the news conference, but I am only in the process of confirming it. I do not know the where, when or why.
You are absolutely right. I did want to be clear that this is still very much a non-confirmed rumor, and I should have used the word rumor on Twitter. Thanks for pointing this out.
I have been working the back channels talking to lawyers and bankers but things still seem to be in flux, no responses with anything concrete yet. Let’s see was happens tonight or tomorrow AM. I am keeping channels open and trying to weed through all the rumors and not repeat anything that I don’t think is credible.
As soon something breaks and we find out where this is all going from a factual standpoint, Ben and I will post it.