Astor Wine is one of the largest wine producers in the United States, and one of its most successful.
It recently paid $500 million for the acquisition of the assets of the family-run winery and is selling them for about $200 million, according to Bloomberg.
But Astor hasn’t been shy about the fact that it isn’t going to sell any of its wineries and isn’t exactly going to be putting a big chunk of its portfolio on the market anytime soon.
The company’s stock price is currently at around $6,500 per share, and the deal is expected to close sometime in the first quarter of 2020.
But according to the company’s latest earnings report, it’s actually selling a lot more assets than that, and it’s selling for about a fifth of what it paid for the entire estate of the business.
For a company that made its name in wine making and is focused on making money through sales of wine and spirits, that is pretty substantial.
“Astor is a highly leveraged company, with a long history of successful acquisitions and growth,” a spokesperson told Ars, explaining that Astor has sold $5.6 billion worth of assets since it bought the business in 2005.
“The acquisition will further increase Astor, our revenue growth and position as a leader in the wine industry.”
The company’s holdings include the company wine estates in Florida and California, and in 2016 it purchased its second-largest winery, the Estate of the Four Seasons in Lake Tahoe, California.