Latham & Watkins Advises on The Duckhorn Portfolio, Inc.’s Secondary Offering

The Duckhorn Portfolio, Inc. (NYSE: NAPA), a premier producer of luxury wines in North America, has announced the pricing of the previously announced underwritten secondary offering by Mallard Holdco, LLC, an entity affiliated with TSG Consumer Partners (the Selling Stockholder), of 6,000,000 shares of common stock of the Company pursuant to a shelf registration statement on Form S-3 filed by the Company with the U.S. Securities and Exchange Commission, at the public offering price of US$15.35 per share. The Selling Stockholder has granted the underwriter a 30-day option to purchase up to an additional 900,000 shares of common stock on the same terms and conditions. No shares are being sold by Duckhorn. The Selling Stockholder will receive all of the proceeds from this offering. The offering is expected to close on April 6, 2023, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriter in the offering with a New York capital markets team led by partners Marc Jaffe, Ian Schuman and John Slater, with associates Lia-Michelle Keane and Autumn Dunn.