A leading company in wine production recently expanded its beverage portfolio through an acquisition of an Italian-inspired nonalcoholic beverage brand, under the guidance of GHJ. The Wine Group LLC acquired the Phony Negroni® nonalcoholic beverage line, a ready-to-serve cocktail product sold across the U.S., from St. Agrestis. GHJ acted as the buy-side advisor to The Wine Group.

St. Agrestis created the Phony Negroni nonalcoholic beverage line in 2022 to offer craft mocktails using high-quality, organic ingredients. Headquartered in Brooklyn, New York, St. Agrestis delivers handmade, natural beverages to stores and restaurants across the country.

Because consumers seek unique and innovative beverage products that meet high standards of sustainability, ingredients usage and availability in nonalcoholic options, the Wine Group is positioned to better serve its customer base’s shifting demands through this acquisition. 

The Wine Group is headquartered in California and has been producing industry-leading beverages, particularly wine, for over 40 years.

GHJ’s Transaction Advisory Services team supported the Wine Group in this transaction, providing in-depth financial due diligence and Quality of Earnings analysis, with an emphasis on earnings and business diligence. The team played a pivotal role in the successful closure of this transaction.

“The Wine Group is at the cutting edge of what consumers expect in the food and beverage industry today,” said Mary Grace Doggett, a member of GHJ’s Transaction Advisory Services Practice who supported the engagement. “The expansion into carefully crafted nonalcoholic spirits enhances the products their customers have come to know and love. We are thrilled to have played a part in broadening their impact.”

The transaction closed at the end of April 2026. BMO served as investment bankers to St. Agrestis.

GHJ provides comprehensive support for buy- and sell-side transactions with enterprise values ranging from $10 million to $3 billion, including due diligence, valuation, deal structuring and integration guidance.