| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Golden State Vintners, Inc. |
| 500 Drake's Landing Road, Greenbrae, CA 94904 * (415) 461-4400 |
| The company is one of the largest vertically integrated suppliers of premium bulk wines, wine processing and storage services, wine grapes and case goods in the United States. |
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
| NASNTL: | VINT | Manufacturing: | SIC 2084 | |
| Type of Shares: | Class B Common Shares | Filing Date: | 4/30/98 | |
| U.S. Shares: | 4,300,000 | Offer Date: | 7/21/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $16.00 - $19.00 | |
| Primary Shares: | 2,150,000 | Offer Price: | $17.00 | |
| Secondary Shares: | 2,150,000 | Gross Spread: | $1.19 | |
| Offering Amount: | $75,250,000 | Selling: | $0.70 | |
| Expenses: | $1,600,000 | Reallowance: | $0.10 | |
| Post-IPO Shares: | - | |||
| Employees: | 172 |
| Issuer's Law Firm: | Riordan & McKinzie |
| Bank's Law Firm: | Sullivan & Cromwell |
| Registrar/Transfer Agent: | U. S. Stock Transfer Corporation |
| Auditor: | Deloitte & Touche |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 6/30/97 | 12/31/97 | 12/31/96 | 12/31/97 | ||
| Revenue: | $95.78 | $89.53 | $76.07 | Assets: | $138.27 |
| Net Income: | $4.86 | $4.90 | $6.39 | Curr Assets: | $65.74 |
| EPS: | $0.71 | $0.62 | $0.93 | Liabilities: | $112.56 |
| Prior EPS: | $0.09 | Curr Liab: | $53.38 | ||
| Cash Flow/Oper: | $6.42 | -$2.40 | $2.61 | Equity: | $25.72 |
| Cash Flow/Fin: | -$2.36 | $4.14 | $1.80 | Cash: | $0.85 |
| Cash Flow/Inv: | -$4.05 | -$2.11 | -$2.12 | Working Cap: | $12.37 |
| Competition |
| The wine industry is extremely competitive. The Company competes with several well-capitalized companies in the production of bulk wine. Further, many of the Company's current and prospective competitors have substantially greater financial, production, personnel and other resources than the Company. In order to meet near-term shortfalls in supply, a number of wineries have commenced purchases of wine from foreign sources. Because of higher production costs in the United States and the higher prices of grapes in California, especially in comparison to the prices of years past, some wineries can achieve significant cost savings, even after taking into account shipping costs, by importing bulk wine from abroad. Some countries, such as France, have launched marketing campaigns to increase their sales in the United States. Foreign competition can be expected to continue and increase. In addition, the Company's principal winery customers compete with each other and with other wineries located in the United States, Europe, South America, South Africa and Australia. Wine also competes with other alcoholic, and to a lesser degree, nonalcoholic beverages, and to the extent wine consumers reduce consumption of wine in favor of such other beverages, demand for wine and the Company's products and services could decline. |
| Business Plan |
| GSV's strategic objective is to strengthen its position as a leading supplier of premium bulk wine, wine processing and storage services and case goods to the leading branded wineries in California and to a number of international winemakers. In addition to building on its business strengths, the Company's strategy for achieving this goal has the following key elements: (I) Upgrade and Expand Winemaking Operations, (ii) Pursue Strategic Acquisitions and (iii) Expand Internationally. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |