Wine Spectator: More On The Foley Purchase Of Chalone

As SND reported earlier this morning, Chalone Vineyards, the isolated California winery known for its Chardonnay and Pinot Noir, has been sold to Bill Foley, head of Foley Family Wines. Foley reached a deal with the winemaker’s owner, Diageo, to buy Chalone, its winery and its 1,000-acre property in Monterey County, including 240 acres of vines. The Chalone brand fell 30% to 80,000 cases in 2015, according to Impact Databank.

The sale is the latest move in global drinks giant Diageo’s retreat from the wine business. Last October it sold most of its U.K. and U.S. wine assets to Australian company Treasury Wine Estates for $600 million. Last week it announced it had sold the former Acacia winery facility in Carneros to Napa’s Peju Province Winery.

Chalone has changed hands on numerous occasions. At one point, it was part of the Chalone Wine Group, a company that went public in 1984 and included California brands such as Acacia, Echelon and Provenance, as well as Washington’s Canoe Ridge and Sagelands. In 2004, Diageo purchased the company for $260 million. Wine Spectator has more.

Tagged : Chalone Vineyards, Diageo, Foley Family Wines, wine, Wine Spectator

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