Wine Spectator: Napa’s Shafer Vineyards Sold to Korean Luxury Firm

In case you missed yesterday’s news alert, one of Napa’s iconic wineries is changing hands. Doug Shafer, president of Shafer Vineyards, announced that Shinsegae Property, a luxury brand firm based in Seoul, South Korea, with department stores, shopping centers, golf resorts, hotels, and other interests, has acquired his family’s winery.

While neither side disclosed details, the price tag is a reported $250 million. Shinsegae acquired the winery through its U.S. subsidiary Starfield Properties, lnc. Shafer winemaker Elias Fernandez and the core winemaking and vineyard staff will continue with the winery for the foreseeable future. The deal includes 225 acres of vines. Wine Spectator has the full story.

Tagged : Shafer Vineyards, Shinsegae Property, Wine Spectator

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