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Goodwill and Intangibles Assets (Tables)
12 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill by Segment

The following is a rollforward of the Company’s goodwill by segment:

(in thousands)

 

Wholesale

 

 

Direct-to-Consumer

 

 

Business-to-Business

 

 

Total

 

Balance at June 30, 2020

 

$

85,940

 

 

$

1,183

 

 

$

-

 

 

$

87,123

 

Kunde

 

 

2,868

 

 

 

10,167

 

 

 

745

 

 

 

13,780

 

Sommelier

 

 

-

 

 

 

8,992

 

 

 

-

 

 

 

8,992

 

Balance at June 30, 2021

 

 

88,808

 

 

 

20,342

 

 

 

745

 

 

 

109,895

 

Vinesse

 

 

-

 

 

 

9,477

 

 

 

-

 

 

 

9,477

 

ACE Cider

 

 

27,539

 

 

 

-

 

 

 

-

 

 

 

27,539

 

Meier's

 

 

-

 

 

 

-

 

 

 

8,247

 

 

 

8,247

 

Measurement period adjustments

 

 

(43

)

 

 

(153

)

 

 

(11

)

 

 

(207

)

Balance at June 30, 2022

 

$

116,304

 

 

$

29,666

 

 

$

8,981

 

 

$

154,951

 

Schedule of Components of Finite-Lived Intangible Assets, Accumulated Amortization, and Indefinite-Lived Assets

The components of finite-lived intangible assets, accumulated amortization, and indefinite-lived assets are as follows:

 

 

June 30, 2022

(in thousands)

 

Gross
Intangible

 

 

Accumulated
Amortization

 

 

Net Intangible

 

 

Weighted Average Remaining Amortization Period (in years)

Indefinite-life intangibles

 

 

 

 

 

 

 

 

 

 

 

Trade names and trademarks

 

$

30,203

 

 

$

-

 

 

$

30,203

 

 

N/A

Winery use permits

 

 

6,750

 

 

 

-

 

 

 

6,750

 

 

N/A

Total Indefinite-life intangibles

 

 

36,953

 

 

 

-

 

 

 

36,953

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Definite-life intangibles

 

 

 

 

 

 

 

 

 

 

 

Customer and Sommelier relationships

 

 

30,700

 

 

 

(4,922

)

 

 

25,778

 

 

4.4

Trade names and trademarks

 

 

1,900

 

 

 

(254

)

 

 

1,646

 

 

3.5

Total definite-life intangibles

 

 

32,600

 

 

 

(5,176

)

 

 

27,424

 

 

 

Total other intangible assets

 

$

69,553

 

 

$

(5,176

)

 

$

64,377

 

 

 

 

 

 

 

June 30, 2021

(in thousands)

 

Gross
Intangible

 

 

Accumulated
Amortization

 

 

Net Intangible

 

 

Weighted Average Remaining Amortization Period (in years)

Indefinite-life intangibles

 

 

 

 

 

 

 

 

 

 

 

Trade names and trademarks

 

$

23,229

 

 

$

-

 

 

$

23,229

 

 

N/A

Winery use permits

 

 

6,750

 

 

 

-

 

 

 

6,750

 

 

N/A

Total Indefinite-life intangibles

 

 

29,979

 

 

 

-

 

 

 

29,979

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Definite-life intangibles

 

 

 

 

 

 

 

 

 

 

 

Customer and Sommelier relationships

 

 

6,300

 

 

 

(200

)

 

 

6,100

 

 

4.7

Total definite-life intangibles

 

 

6,300

 

 

 

(200

)

 

 

6,100

 

 

 

Total other intangible assets

 

$

36,279

 

 

$

(200

)

 

$

36,079

 

 

 

Estimated Future Amortization Expense for Finite-Lived Intangible Assets

As of June 30, 2022, the estimated future amortization expense for finite-lived intangible assets is as follows:

(in thousands)

 

 

 

 

 

2023

 

 

 

$

6,822

 

2024

 

 

 

 

6,811

 

2025

 

 

 

 

5,291

 

2026

 

 

 

 

4,527

 

Thereafter

 

 

 

 

3,973

 

Total estimated amortization expense

 

 

 

$

27,424