TSL Express Daily News

Work for Winc, Inc. Garners Sec. 363 Sale of the Year Award

New York, NY – February 22, 2024 – CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, has been recognized by The M&A Advisor with the Sec. 363 Sale of the Year Award ($10 MM – 50MM category) for its advisory work in the restructuring and sale of Winc, Inc., a wine club, wholesaler, and online retailer.

The M&A Turnaround Awards recognize noteworthy distressed transactions, restructuring, refinancing, products and services, firms, and professionals in the United States and international markets. Award winners are selected from over 250 nominees and judged by an independent panel of industry experts.

CohnReznick won the Sec. 363 Sale of the Year Award for its advisory and technical support in the restructuring and subsequent sale of Winc’s assets. This included a multi-party settlement that preserves key assets for the bankruptcy estate and provides for the creation of a trust for the benefit of unsecured creditors. Kevin Clancy, Global Lead, Restructuring and Dispute Resolution, headed the CohnReznick team along with Vincenzo Toppi, Partner, Restructuring and Dispute Resolution.

“On behalf of the entire team involved in Winc’s restructuring and sale, we’re honored to be recognized by The M&A Advisor for our role in this transaction. Congratulations to all of the award winners this year, who are doing incredible work in a challenging economic environment,” said Clancy. 

The win adds to other M&A Advisor awards won by CohnReznick. In 2019, CohnReznick earned the Restructuring of the Year Award in the $25MM-$50MM category for its role in the Chapter 11 reorganization of New England Motor Freight. The firm’s transactions team was also recognized by The M&A Advisor last year with its Private Equity Deal of the Year Award in the $500MM-$1B category.

“The business landscape for the past several years has been highly volatile and indeed challenging,” said Roger Aguinaldo, Founder and CEO of The M&A Advisor. “The winners of our 2024 Distressed Investing and Turnaround Awards carefully picked by a distinguished group of their peers, are firms and individuals who have truly shown excellence in the field of distressed investing and restructuring.”

CohnReznick and other award winners will be honored at The M&A Advisor Awards Gala, to be held in Palm Beach, FL on March 19, 2024.

About CohnReznick

As a leading advisory, assurance, and tax firm, CohnReznick helps forward-thinking organizations achieve their vision by optimizing performance, maximizing value, and managing risk. Clients benefit from the right team with the right capabilities; proven processes customized to their individual needs; and leaders with vital industry knowledge and relationships. With offices nationwide, the firm serves organizations around the world through its global subsidiaries and membership in Nexia International. For more information, visit www.cohnreznick.com.

About The M&A Advisor

Now in its 26th year, The M&A Advisor was founded to offer insights and intelligence on mergers and acquisitions, establishing the industry’s leading media outlet in 1998. Today, the firm is recognized as the world’s premier leadership organization for mergers & acquisition, restructuring and corporate finance professionals, delivering a range of integrated services. www.maadvisor.com