Vintage Wine Estates Wins Approval to Sell Brands to Foley Firm

Bankrupt California-based vintner Vintage Wine Estates Inc. won court approval to sell five wine brands, including Bar Dog and Cherry Pie, to billionaire Bill Foley’s wine company.

US Bankruptcy Judge Mary Walrath said Tuesday she’d allow the sale of the brands to Foley Family Wines Inc. for $15 million. The buyer owns more than 25 wineries and distilleries, in locations as diverse as New Zealand and Scotland, according to the company’s website.

Foley’s offer came in the form of a stalking horse bid, meaning it’s subject to better offers should any materialize in the coming weeks. If competing bids ...