California's 10 biggest wine deals of 2022
This year's Chronicle wine coverage was dominated by winery and vineyard sales. Top headlines included the sale of four iconic, family-owned Napa Valley properties to conglomerates.
AXA Millésimes, the wine subsidiary of French insurance company AXa, bought the Platt Vineyard. Platts produces Pinot Noir and Chardonnay from the West Sonoma Coast. The purchase price was not disclosed.
Montecillo Vineyard owner Kaarin Lee sold the 57-acre mountain site in Sonoma’s Moon Mountain region to Napa's Stewart Cellars. Stewart developed its brand on single vineyard Cabernet from Napas top vineyards.
The PlumpJack Group, co-founded by Gov. Gavin Newson, bought the Oso Vineyard from the Mondavi family for $14.5 million.
Steve Lagier and Carole Meredith turned down a big offer to sell their famous Lagiers Meredith Vineyard to their friends. They wanted to live out their retirement in their 84-acre property. They bought it in 1986 for $240,000.
Realm Cellars bought the Houyi Vineyard from Nine Suns Winery. The purchase price was undisclosed. It was chosen over more lucrative offers from larger entities. Realm controls vineyards in three of Napa Valley’s top Cabernet regions: Stags Leap, Coombsville and Pritchard Hill.
Gallo has bought Denner Vineyards for undisclosed price. Dener was a leader in developing Paso Robles' reputation for producing premium wines. Paso is one of California's fastest-growing wine regions.
Walt Disney family sold their Napa winery to Bill Foley. The sale was estimated to be worth over $150 million. Silverado Vineyards was founded in 1981 and is famous for its Stags Leap wines.
Robert Sinskey, a popular Napa winery, sold its flagship estate to the Wonderful Company, which owns Fiji Water, POM juice and a handful of California wineries. Wonderful's owners have been criticized for using excessive amounts of water during drought periods and clearing 100 acres of oak trees on the Justin Vineyards & Winery property in 2016.
Joseph Phelps, a Napa Valley winery, was sold to Moet Hennessy Louis Vuitton for $725 million. LVMH already owns three other Napas Valley wine brands: Domaine Chandon, Newton Vineyard and Colgin Cellars.
Shafer Vineyards was sold to a South Korean corporation for $250 million. The winery is famous for its Hillside Select bottling that sells for upwards of $300. It's the first wineries holding for South Korea's Shinsegae Property, which owns golf courses, hotels, shopping centers, department stores and a liquor wholesale business.
