News if flying this week about Napa Valley wineries being sold for big chunks of money–continuing a trend that’s been going on for quite some time.
The venerable Stag’s Leap Wine Cellars–the Stag’s Leap District winery made famous by Warren Winiarski–announced that it has agreed to sell to Ste. Michelle Wine Estates and Marchesi Antinori for some $185 million. Reuters has the details here. According to a press release announcing the deal, Winiarski will “remain in an advisory role for three years.”
Also today, Duckhorn Wine Company, which owns Duckhorn Vineyards, Paraduxx and Goldeneye Winery, has also reportedly agreed to sell a controlling share to GI Partners, a Silicon Valley-based private equity firm. Financial terms of the deal have not been disclosed–here’s hoping the new ownership doesn’t make too many changes to Paraduxx, we love that place.
Never a dull moment!