Gaucho Group Holdings, Inc. acquires 21% minority stake in Gaucho Group, Inc. and its e-commerce assets

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Gaucho – Buenos Aires and Gaucho Casa – Buenos Aires leather goods and accessories brands now 100% subsidiaries under the aegis of Gaucho

NEW YORK, NY / ACCESSWIRE / September 20, 2021 / Gaucho Holdings Group, Inc. (NASDAQ: VINO), a company that includes a growing collection of e-commerce platforms with a focus on fine wines, luxury real estate, and leather goods and accessories, today announced that its shareholders have voted to approve the purchase the remaining 21% of Gaucho Group, Inc. in exchange for the issuance of common shares of the company valued at approximately $ 2 million.

With this transaction, GGI Inc. will become a wholly owned subsidiary of Gaucho Group Holdings, Inc., which owned 79% of GGI. The consolidation of GGI, which owns Gaucho – Buenos Aires and Gaucho Casa in Gaucho Group Holdings, has been completed as Gaucho Holdings embarks on an aggressive expansion of the Gaucho brand, such as the previously announced Las Vegas project, which may include accommodation, hospitality, retail and gaming opportunities, as well as other potential future opportunities.

Scott Mathis, CEO and Chairman of Gaucho Holdings, said: “This all-equity transaction consolidates all minority stakes in GGI under one roof, which we believe can significantly reduce labor and cost costs. accounting. revenue potential and continues to be a strategic part of our growth plan. As we grow and evolve, we seek to grow and strengthen our business using deployment strategies such as this to acquire additional luxury brands in synergy with our own to create long-term value. “

About Gaucho Group Holdings, Inc.

For more than ten years, Gaucho Group Holdings, Inc. (gauchoholdings.com)’s mission is to seek out and develop opportunities in the undervalued luxury real estate and consumer market in Argentina. Our company has positioned itself to take advantage of the continued and rapid growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in lifestyle and lifestyle sectors. sought after retail landscapes. With a focus on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with our proprietary brand Algodon, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires “(gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from forward-looking statements due to a number of factors, including those described from time to time in our documents filed with the Securities and Exchange Commission and elsewhere. The Company assumes no obligation to update any forward-looking statements contained in this document. All forward-looking statements speak only as of the date of this press release.

Media Relations:

Gaucho Holdings Group, Inc.
rick star
Marketing Director
212.739.7669
[email protected]

Investor Relations:

John mcnamara
917-658-2602
[email protected]

THE SOURCE: Gaucho Holdings Group, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/664750/Gaucho-Group-Holdings-Inc-Acquires-21-Minority-Interest-in-Gaucho-Group-Inc-and-Its-E-Commerce-Assets

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