Dozen wineries join Jackson Family Wines co-founded climate action group; Summit State Bank buys back stock
Santa Rosa-based International Wineries for Climate Action (IWCA) has accepted 12 new applicant winery members.
The organization is set up for foster action to “tackle the severity of the climate crisis by taking immediate action to reduce their carbon emissions.”
With the new participating companies, the agency said total IWCA membership is more than 20 wine companies spanning seven different countries and five continents.
They are A to Z Wineworks (Oregon); Cakebread Cellars (Napa), Château Troplong Mondot (Bordeaux, France): Constellation Brands (Fine Wine Portfolio, California): Crimson Wine Group (Napa): Gloria Ferrer (Sonoma): Herència Altés (Catalonia, Spain): Hunt Country Vineyards (New York): Medlock Ames (Sonoma County): Ridge Vineyards (California): Sula Vineyards (Nashik, India): and Yalumba Family Winemakers (Barossa, South Australia.
The group was founded in 2019 by Familia Torres of Spain and Jackson Family Wines of California.
Santa Rosa-based Summit State Bank announced it plans to issue a 10% stock dividend to be paid Nov. 4 to shareholders of record as of Oct. 29.
Each shareholder of the bank will receive one additional share of stock for every ten shares owned on the record date of October 29, 2021. Cash will be paid in lieu of fractional shares based on the closing price of the common stock on the record date.
Summit State Bank, a local community bank, has total assets of $902 million and total equity of $79 million at June 30, 2021.
Sacramento-based Perfect Union recently reached its latest funding round goal of $15 million to bolster its expansion efforts.
Now, the cannabis company is looking to raise at least double that in its next funding round in 2022.
David Spradlin, CEO of Perfect Union, disclosed last October that the company's investment arm, MWG Holdings Group Inc., was planning a $15 million equity offering. According to a recent filing with the Securities and Exchange Commission, the company raised the funds through 16 investors.
With the closing of the Series B round, Spradlin told the Sacramento Business Journal that Perfect Union will have raised around $30 million since it held its first funding round in 2017. The latest funds, he said, will continue to help the company finish infrastructure projects, bolster its cultivation efforts, establish a commercial kitchen where it plans to develop new edible lines, and expand more into distribution.
Over the last 18 months, Perfect Union has opened dispensary locations in Napa, Seaside, Riverbank, Morro Bay, Turlock, Weed, Shasta Lake and Ukiah. The company also has two locations in Sacramento and one in Marysville.
Perfect Union purchased a building adjacent to its Napa location where it plans to operate an approximately 2,000-square-foot commercial kitchen to manufacture edibles. It's also in the process of building out its second cannabis cultivation project. The Colfax facility is expected to feature eight, fully enclosed commercial greenhouses where the company's in-house flower brand, 530 Grower, will be cultivated.
Hess Collection Winery in the Napa Valley has announced it will become Hess Persson Estates.
“We continue our long-standing vision to be a leading family ownedid and operated producer of luxury wines with a special focus on Cabernet Sauvignon,” sa CEO and Proprietor Timothy Persson. “Our dedication to quality and sustainability is of utmost importance, and we continue our commitment to preserve the land for future generations.”
Donald Hess formally retired from The Hess Collection and Hess Family Wine Estates in 2017 and turned the enterprise over to son-in-law Timothy Persson and daughter, Sabrina.
Registration is now open for Winter Grape Day 2021, presented by the Department of Viticulture and Enology at UC Davis on Nov. 10.
For a complete agenda, including times and presenters, see wineserver.ucdavis.edu. The cost is $250 in-person or live-streamed.
The California Farm Bureau Federation announced that the Napa County Farm Bureau is the recipient of 5 Awards for Excellence and has also been named one of three statewide finalists for County of the Year for a third consecutive year.
The Napa County Farm Bureau received the state awards for Policy Implementation, Leadership, Ag Education, Membership and Public Relations.
President Johnnie White and CEO Ryan Klobas will receive the awards at the California Farm Bureau Annual Meeting scheduled in December in Orange County.
Sutter Santa Rosa Regional Hospital has earned a Get With The Guidelines-Stroke Gold-Plus Quality Achievement Award for meeting or exceeded performance-focused quality benchmarks set forth by the American Stroke Association. Sutter Santa Rosa Regional Hospital also earned a place in the Stroke Honor Roll, receiving Elite Plus Honor Roll status.
In addition, Sutter Santa Rosa Regional Hospital earned a Get With The Guidelines®- Gold Quality Achievement Award for high quality heart failure care while California Ambulatory Surgery Association recognized Sutter Santa Rosa Surgery & Endoscopy Center with its ASC of the Year Award, an honor reserved for the ambulatory surgery center that demonstrates industry-best practices in quality, education, community service, membership and advocacy. For more information,