Which Napa Valley winery has filed with the SEC for a proposed initial public offering (IPO), the first for a California winery in over 20 years?
A. Duckhorn Wine Company
B. Trefethen Family Vineyards
C. Domaine Chandon
D. Stag’s Leap Wine Cellars
Duckhorn Wine Company will be one of the first California wineries to go public since the late 1990s. Duckhorn plans to list its stock on the New York Stock Exchange under the symbol “NAPA.” The February announcement reveals the direction in which the California wine industry is heading—from artisanal, family-run estates to something more corporate. Duckhorn, the parent company, now includes Calera and Kosta Browne, in addition to Duckhorn’s line of waterfowl-named brands such as “Decoy” and “Migration.” The few California wineries that have gone public—Robert Mondavi, Chalone, and Ravenswood, among others—rarely fared well in the long run. Most ran afoul of their public shareholders who grew weary of unpredictable earnings and the volatility that comes with agriculture.