Crivello Group, LLC announces financing of Copperford, LLC dba Olde Lockeford Winery
Donald and Karyn Litchfield are wine industry innovators.
Pompano Beach, Florida (PRWEB) September 25, 2004 -Frank P. Crivello, Crivello Group, LLC (CG") Managing Member, announced today that its principals provided a working capital facility to Copperford, LLC dba Olde Lockeford Winery (OLW").
OLW was originally constructed in 1946 on its twenty-five acre site located in Lockeford, California. In the late 1980s, it fell into decline and closed. In 1998, Donald and Karyn Litchfield purchased it after a county foreclosure sale. After their purchase, they resurrected and renovated it. Since then they have created an original model for the wine industry.
Creating small lots of hand-crafted wines, OLW has developed a brand name for the wines it makes and sells. OLWs picks only the highest quality grapes grown in and near Lodi, California. Since 2000, OLW has won numerous awards in wine tasting competitions. OLW is poised to grow their varieties and annual revenue. OLWs wine variety information is available at www.vinopiazza.com/oldelockeford.
OLW is a wine industry innovator. Because the financial and resource barriers to entry for new wineries are high, Don and Karyn created the Vinopiazza"-a unique and one of a kind facility. The Vinopiazza is a winery village in which twelve wineries or incubators" share resources and services. Organizationally, the structure is similar to a co-operative. Each winery incubator occupies approximately 800 sq ft is capable of supporting a full winery operation, including a wine tasting room in front. The Vinopiazza concept allows prospective wineries to start operations with little overhead expense and less risk since winery services and equipment are readily available at OLWs site. For the many customers that visit Vinopiazza, it means they can sample a wine from a dozen wineries at one location. In the latest evolution of Vinopiazza, OLW plans to construct a Bistro, Tai Cuisine Restaurant, and Glass Blowing Company to further enrich the experience for customers.
OLW is an innovative leader in providing traditional winery services. OLWs provides bottling and private label services for wineries and commercial clients. In early 2005, OLW plans to construct a partially submerged wine storage facility to provide the industry with nearby storage for its seasonal aging and finished product. In late 2005, OLW plans to complete a Winery-Process Water Treatment Facility. At present many wineries haul their waste water to treatment facilities as far as Oakland, California. Given Don Litchfields science and environmental background, he was able to design a plant to treat his waste water and that of many surround wineries without the cost and environmental burden of hauling many miles. In his entire educational and professional career, Don has been committed to environmentally sound practices and businesses.
CG Managing Member Frank Crivello stated: We were pleased to provide Old Lockeford with working capital financing. We plan to provide additional financing once an audit is completed. Don and Karyn have established a solid winery. Not only do they making great tasting award winning wine, they have identified and designed plans to implement innovative businesses related to the wine industry. We are excited to work with Old Lockefords entire management team to help them fulfill their mission and exciting business plan. In addition to this financing, we will provide strategic consulting services to Old Lockeford."
OLW Manager Donald Litchfield stated: We were in discussions with CG for several months and we were pleased to bring our agreement to completion. Most importantly, CG has a shared vision and enthusiasm for our business making CG a desirable financing partner."
About Crivello Group, LLC www.crivello.com:
CG is a strategic advisors and partners to distressed and emerging companies. CGs solutions for distressed or emerging company that include:
• Stabilization
• Capital & Debt Alternatives
• Staff, Boards, and Professionals
• Divestiture & Dissolution
• Plan of Restructuring or Reorganization
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of CG could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to assumptions relating to the marine market and that there will be no unanticipated material adverse change in CG's operations or business.
Contact:
New-School Communications, LLC
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