Truett-Hurst: Sells wholesale wine business to Precept Brands

Truett-Hurst

14/08/2018 11:46

** Wine producer's shares  THST.O  up 55 pct at $2.30
premarket; top pct gainer 
    ** Sells wholesale wine business to Precept Brands for $18
mln in cash to focus on core brands - Truett Hurst and VML
    ** Deal expected to result in proceeds of about $15.9 mln
 urn:newsml:reuters.com:*:nPncgFzMla
    ** Wholesale wine segment's sales $15.6 mln in 2017, down
22.2 pct from yr earlier
    ** Stock down ~28 pct YTD. Up 17 pct in 2017

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))