Two Buck Chuck wine creator Fred Franzia recently passed away at the age of 79. The news, which was revealed by Branco Wine Company on social media, stated that Franzia died on Tuesday morning at his residence, with the cause of his death remaining unknown. According to the statement,
“Core to his vision was a belief that wine should be enjoyed and consumed on every American Table. When asked how Branco Wine Company can sell wine less expensive than a baottle of water, Fred T. Franzia famously countered, ‘They’re overcharging for the water – don’t you get it?’”The statement continued and mentioned that Bronco Wine Company "has achieved vertical integration", adding that "his entrepreneurial spirit, tireless dedication, and his commitment to his family and the Bronco family will be remembered forever."
Fred Franzia is survived by his five children, 14 grandchildren, one brother, and two sisters.
Fred Franzia’s net worth explored
Fred Franzia mostly gained recognition as the CEO and co-founder of one of the biggest winemakers in the United States, Charles Shaw, also known as Two Buck Chuck. Two Buck Chuck is among one of the fastest-growing wine companies in history and has sold more than 5 million cases and around 60 million bottles for $100 million in annual sales.
Although the specific figure remains unknown, various sources say that Franzia’s net worth was estimated to be more than $25 million. He earned a lot from his work in the wine industry.
He was born in one of the most popular wine families in California and started working in the family wine business after his college. He then started Bronco Wine Co. in December 1973, which owns around 50,000 acres of vineyards located in California’s Central Valley. The company produces around 61 million gallons every year, leading to annual sales of 20 million cases of 240 million bottles.
However, Fred Franzia had to face some legal problems in 1993 where he and Bronco were accused of conspiracy for misrepresenting cheap grapes for $100 to $200 per ton. Bronco and Franzia pleaded not guilty and paid a fine of $2.5 million and $500,000 each.
Although Franzia entered the wine industry to earn money, he decided to make things affordable for everyone. Bronco grows vines, crushes grapes and bottles of wine, and runs its distribution operation. It also looks over the storage and production facilities in five Central Valley and Napa Valley towns and bottles around 30 labels like Charles Shaw, Crane Lake, Forest Glen, and Forestville.
Fred Franzia brought the Charles Shaw label from a Napa Valley winery in 1995 and has since sold almost 800 million bottles of it's wine in 12 years.
The Franzias are currently the owners of around 35,000 to 55,000 acres of vineyards and five wineries. Bronco Wine Company is now one of the fifth-largest wineries in the United States and its brands include Allure, Blanc De Bleu, Crane Lake, Gravel Bar, Six Degrees, and more.
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