Apparently more than ever, this year’s Chronicle white wine coverage was dominated by winery and vineyard sales.
Top headings included the sale of 4 renowned, family-owned Napa Valley residential or commercial properties to conglomerates, which Chronicle white wine critic Esther Mobley argued might alter “the character of Napa Valley.”
However a few 2022 transactions revealed another side to corporatization: The chance to raise the profile of up-and-coming regions. Other deals were unexpected– enthusiastic even– as families rejected financially rewarding deals in favor of small, local stewards.
Keep reading for details on 2022’s 10 most significant wine acquisitions in California.
10. French company invests in the Bay Location’s latest white wine region
AXA Millésimes, the red wine subsidiary of French insurance provider AXA, acquired the Platt Vineyard, a notable source of grapes for distinguished wineries like Littoria and Ramey Wine Cellars, plus leading Napa wine makers Thomas Rivers Brown and Philippe Melka. Set on the rocky shoreline that overlooks Bodega Bay, Platt produces Burgundian-inspired Pinot Noir and Chardonnay. The white wines are characterized by the newly-formed West Sonoma Coast’s signature acidity and elegance, an outcome of the region’s cool temperature, wind and fog. The proliferation of French business in California continues to grow each year, and while corporatization is a huge issue in the wine industry, this specific deal might elevate the profile of the brand-new, lesser-known area. The purchase rate was not divulged; AXA likewise owns cult Napa winery Outpost.
Napa winery Stewart Cellars has acquired
the Montecillo Vineyard in Sonoma’s Moon Mountain Region. Ramin Rahimian/Special to The Chronicle 9. Sonoma gold mine goes to Napa household One of Sonoma County’s most cherished sites for Cabernet Sauvignon remains in brand-new hands, however in an unexpected twist, it didn’t go to a corporation. Instead, Montecillo Vineyard owner Kaarin Lee selected a local white wine household, Napa’s Stewart Cellars, as the land’s next steward. The purchase rate of the 57-acre mountain website in Sonoma’s Moon Mountain region– which has a few of the earliest Cabernet vines in California– was not revealed. But the sale was a big win for a handful of respectable wineries, like Bedrock and Arnot-Roberts, that purchase fruit from the site, as Stewart plans to continue those relationships. (Frequently, agreements are not renewed after these deals.) Stewart developed its brand on single vineyard Cabernet from Napa’s top vineyards, so the winery’s financial investment in Sonoma for its very first estate sends a huge message: Napa’s ‘little brother’ can grow premium Cab, too.
8. Gov. Newsom-founded wine company broadens to underdog territory
The PlumpJack Group, co-founded by Gov. Gavin Newson and among Napa Valley’s the majority of respected wine business, expanded this year by acquiring a vineyard in an unexpected area: the remote Pope Valley in Napa County’s northeastern outskirts. A bargain by Napa standards, the business bought the 129-acre Oso Vineyard from the Mondavi household for $14.5 million. The company– which owns PlumpJack Estate, Odette Estate, Cade Estate and Ladera Vineyards– is betting on the underrated capacity of the location, particularly for producing Sauvignon Blanc. The purchase is also constant with a trend of wineries seeking to own their own vineyards in the face of increasing grape prices.
Instead of selling their property and brand name to a big corporation, Steve Lagier and Carole Meredith, left, made a non-traditional plan to deliver control of their vineyard to their pals Aaron and Claire Pott, right, owners of Pott Wines.Carlos Avila Gonzalez/The Chronicle
7. Beloved Napa winemakers deny huge pay day
Wineries and vineyards often choose hundreds of countless dollars, but the price of this Mount Veeder vineyard is virtually unheard of: $0. Prominent Napa vintners Steve Lagier and Carole Meredith declined numerous deals and rather transferred control of their treasured Lagier Meredith Vineyard– best understood for crafting brooding Syrahs among a world of Napa Cabs– to their long time pals, Aaron and Claire Pott. No legal documentation was drawn up and there was simply one specification: The couple might live out their retirement in their house on the 84-acre home, which they purchased in 1986 for $240,000. Both Meredith and Lagier have reached star status in the wine industry for their willingness to go against the grain versus getting on the newest fad. This decision to leave a huge payday is probably their boldest declaration yet.
The entrance to the cellars at the 9 Suns winery, a 40-acre estate in Napa Valley’s prominent Pritchard Hill area, which
offered to World Cellars. Rachel Bujalski/Special to The Chronicle 6. Increasing Napa stars snag an ultra-exclusive estate
Cult Napa Cabernet brand Realm Cellars was an unlikely winner in the bid to buy a valuable slice of the Pritchard Hill area, mainly considered to be Napa Valley’s crown gem. World acquired the 40-acre Houyi Vineyard from 9 Suns Winery, in addition to the winery, caves, and 9 Suns and Houyi Vineyard brands. The purchase price was undisclosed, however Realm, which has actually sourced fruit from the Houyi Vineyard because 2013, was picked over more lucrative deals from larger entities. Co-owner and CEO Scott Becker credits this to World’s capability to cultivate longstanding relationships with its grower partners, a method that has resuscitated the brand after it almost went bankrupt in 2011, according to Becker. Today, World controls vineyards in 3 of Napa Valley’s leading Cabernet areas: Stags Leap, Coombsville and Pritchard Hill.
5. Gallo turns its sights to Paso
E. & & J. Gallo acquired Denner Vineyards, one of Paso Robles most well-known wineries, for a concealed purchase rate. Established in the late ’90s, Denner was a leader in developing Paso’s track record for producing premium Rhone- and Bordeaux-inspired red wines. This investment by the biggest U.S. white wine company comes as Paso, among California’s fastest-growing wine areas, is gaining global acknowledgment. In May, the Duckhorn Portfolio– which went public in 2021– purchased a Cabernet vineyard in Paso, and Constellation Brands purchased the popular Booker Vineyard there in 2015. Earlier this month, Justin Vineyards & & Winery became the only U.S. winery restaurant to hold a Michelin Star.
4. Walt Disney family offers Napa winery
A trendsetter of Napa’s famed Stags Leap red wine region, Silverado Vineyards sold to billionaire, National Hockey League owner and wine magnate Bill Foley one year after it commemorated its 40th anniversary. Wine Spectator estimated the list price at over $150 million. Founded in 1981, Silverado Vineyards was notoriously owned by the Walt Disney family, however fell out of style in the last few years; multi-million dollar, cutting edge estates have turned up around it while most of Silverado red wines are offered through grocery retail, beginning at approximately $20 a bottle. Over the past 15 years, Foley’s company has turned into one of the red wine industry’s most significant, most active players– with over 30 West Coast brands– and its expanded footprint in Napa Valley helps solidify its location amongst the nation’s most powerful red wine business, like Gallo and Constellation Brands.
Robert Sinskey Vineyards offered its flagship estate off Napa’s Silverado Path to the Fantastic Company. Sarahbeth Maney/Special to The Chronicle 3. Precious
Napa winery offers to questionable Fiji Water owners
The last prominent dealing of 2022 squeaked in with two weeks to spare. Robert Sinskey, one of Napa’s most popular wineries, offered its flagship estate to the Fantastic Business, which owns Fiji Water, POM juice and a handful of California wineries, consisting of Napa Valley’s Lewis Cellars. The purchase price was not divulged and the deal did not include the Robert Sinskey brand name or 200 acres of extra vineyard land, as the Sinskeys are not retiring. Instead, they stated the winery “felt too grand” and that they’re preparing a new agrarian endeavor with animals, orchards, a creamery and a farmstand. Wonderful has not exposed its future prepare for the estate, which the company is currently leasing back to the Sinskeys, however the white wine market might see its growing existence in Napa Valley as questionable. Terrific’s owners, Los Angeles billionaires Stewart and Lynda Resnick, have been slammed for utilizing excessive quantities of water throughout dry spell periods and for clearing 100 acres of oak trees on the Justin Vineyards & & Winery residential or commercial property in 2016– an infraction of their Paso Robles utilize license.
The signature wine of Joseph Phelps winery, which offered to French high-end corporation Moet Hennessy Louis Vuitton(LVMH ). John Storey/Special to the Chronicle
2. LVMH includes Joseph Phelps to growing Napa collection
Some may argue that this offer ought to be in the No. 1 area. The details of these last two are eerily similar: a timeless Napa winery built on the back of a visionary red wine offered to an international purchaser. While the 50-year-old Joseph Phelps, one of Napa Valley’s many influential wineries, likely went for a significantly higher price– one unconfirmed report put it at $725 million– it was less head-turning since the winery went to French high-end corporation Moet Hennessy Louis Vuitton (LVMH). The business, which owns name brand names like Dom Perignon, Krug and Veuve Cliquot, currently has three other Napa Valley wineries in its portfolio: Domaine Chandon, Newton Vineyard and Colgin Cellars. Joseph Phelps’ popular Insignia red wine is considered to be the first American blend of Bordeaux grapes, and today, these sort of proprietary blends are a signature of the red wine area.
1. South Korean corporation purchases Napa icon Shafer
The most stunning winery sale of the year was of Shafer Vineyards, a 50-year-old Napa icon, to a South Korean corporation for $250 million. An esteemed winery from Napa’s early modern era, Shafer is best known for its Hillside Select bottling that costs upwards of $300. Found in the distinguished Stags Leap area, the winery was a pioneer of Napa Valley’s hills, which are harder and pricey to farm. Hillside Select helped develop the marketplace for single vineyard hillside white wines– now the most desirable offerings in Napa Valley. The sale shows the continued corporatization of Napa Valley at the hands of foreign corporations, though a majority of those are French. Shafer is the first winery holding for South Korea’s Shinsegae Home, which owns golf courses, hotels, shopping centers, outlet store and an American liquor wholesale service. The sale could open up Wine Nation’s doors for more foreign business beyond Europe.
Jess Lander is a San Francisco Chronicle staff writer. Email; [email protected] Twitter: @jesslander