SATYRICON Frontman Sold 90% Of His Wine Business For Millions

08 July 2020
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According to Dagens Næringsliv, SATYRICON frontman Sigurd "Satyr" Wongraven sold 90% of his wine company, Wongraven Wines, in 2019 to Vingruppen, owned by wine and spirits producer Arcus.

Dagens Næringsliv obtained Vingruppen's 2019 financial records that showed shares in Wongraven Wines were valued at NOK 51.3 million, which is about $5.4 million.
In 2019, Wongraven Wines had sales of NOK 6.6 million (approximately $700,000), ending the year with a profit of NOK 3.7 million ($390,000) before tax.
Since 2009, Sigurd Wongraven has developed and sold quality wines in Norway. From 2014, this has been done in collaboration with Vingruppen.
Satyr's portfolio includes the popular Wongraven Morgenstern Riesling, Wongraven Alleanza Langhe Rosso and Wongraven Champagne. He blends the wines himself and works closely with the winemakers on both viticulture and vinification. In addition, Sigurd does all design development together with his network of artists and designers. The wines are produced organically, or according to organic principles.
Sales have more than quadrupled since 2015, and in the 12 months ending last December, Norway's liquor and wine monopoly Vinmonopolet sold nearly one million liters of wine from Wongraven. The brand is thus the tenth largest in the Norwegian market.
Despite Wongraven Wines being majority-owned by Vingruppen, all the work Sigurd Wongraven does to produce fantastic wines continues as before. Symposium Wines also continues to be responsible for the sale of the brand in Norway.
About a decade ago, Satyr partnered with Luca Roagna, a fifth-generation winemaker from Piedmont, Italy, to launch the musician's own brand of wine.
Wongraven and Roagna first met in the spring of 2003 while SATYRICON was on tour in Italy and spent several months in 2010 creating two classic wines that represented a combination of Roagna's skilled vineyard work and Satyr's vision of traditional Piedmontese wines.
Wongraven also has a number of other wine projects. He has collaborated with Baron-Fuente to make 100% organic Champagnes, and Remy and Armin Grassa to create Bordeaux-style whites.